BANGKOK, Thailand – Thailand’s domestic gold prices surged by 800 baht per baht-weight on the morning of April 11, marking a new all-time high, driven by a sharp rise in global gold prices and a strengthening Thai baht. The Gold Traders Association reported the first price update at 9:04 a.m.
Gold bars (96.5% purity) are now being bought at 51,100 baht and sold at 51,200 baht per baht-weight. Meanwhile, gold ornaments are being bought at 50,179.60 baht and sold at 52,000 baht.
Analysts from Hua Seng Heng Gold Futures Company revealed that the global spot gold price surged by $93, reaching a record $3,176 per ounce. The rally continued amid rising safe-haven demand, fueled by intensifying trade tensions between the United States and China, as well as the weakening U.S. dollar. The White House disclosed that current tariffs on Chinese goods have risen to 145% after former President Donald Trump announced an increase to 125%, excluding a previous 20% hike imposed on March 4.
Inflation data showed the U.S. Consumer Price Index (CPI) rose 2.4% year-over-year in March, down from 2.8% in February and below market expectations of 2.5%. Two Federal Reserve governors noted continued uncertainty from trade policy impacts, indicating no imminent rate cuts.
Meanwhile, gold ETF SPDR continued buying for the second consecutive day, adding 12.62 tons.
Analysts caution that despite the current rally, gold prices remain high and could face pressure from future baht fluctuations. A defensive investment strategy is advised, recommending accumulation around the 50,000-baht support level, with a profit-taking target at 51,900 baht and a stop-loss if prices fall below 49,500 baht.
