Gold prices in Thailand surge to historic 42,050 baht high

Picture courtesy of Jingming Pan, Unsplash

Gold prices reached a new high today, with the Gold Traders Association (GTA) reporting a significant increase to 42,050 baht per baht weight, marking a historic surge. In a remarkable shift, gold ornament prices soared by 600 baht compared to the previous day’s closing figures.

The GTA website showed that as of 9.02am, domestic gold bars were purchased at 41,450 baht per baht-weight and sold at 41,550 baht. This initial announcement set the tone for the trading day, indicating a robust start for gold transactions.

In terms of gold ornaments, which consist of 96.5% gold, the buying price was set at 40,704.60 baht per baht-weight, with a selling price of 42,050 baht. The spot gold price on the global market stood at 2,384.00 US dollars per ounce.

This jump in gold prices follows an upward trend from the close of business on April 12, where a 600 baht increase was immediately apparent upon the market’s opening this morning, reported KhaoSod.

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The surge in gold prices today not only broke records but also pushed the benchmark beyond the 42,000 baht threshold. To summarise the prices on April 16: gold bars were bought at 41,450 baht and sold at 41,550 baht per baht-weight, while gold ornaments were bought at 40,704.6 baht and sold at 42,050 baht per baht-weight.

In related news, gold prices in Thailand skyrocketed, setting a new all-time high record, reflecting a sharp increase of 750 baht from the previous day’s closing rate. The surge occurred amidst volatile market conditions, with the GTA announcing five price changes within the first 35 minutes of the trading day, starting with an initial hike of 700 baht at 9am.

The second announcement saw an additional increase of 50 baht, pushing the selling price of 96.5% pure gold bars to 41,200 baht and the buying price to 41,100 baht. The price for gold ornaments was set at 41,700 baht for selling and 40,355.92 baht for buying.

Economy NewsThailand News

Nattapong Westwood

Nattapong Westwood is a Bangkok-born writer who is half Thai and half Aussie. He studied in an international school in Bangkok and then pursued journalism studies in Melbourne. Nattapong began his career as a freelance writer before joining Thaiger. His passion for news writing fuels his dedication to the craft, as he consistently strives to deliver engaging content to his audience.

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