Thailand gold prices rise by 50 baht as year ends
Gold prices in Thailand have risen as the year comes to an end, setting the stage for the new year. On the last day of the year, December 31, the Gold Traders Association announced an increase in gold prices by 50 baht compared to yesterday. Today, ornamental gold is being sold at 42,800 baht per baht weight.
According to the Gold Traders Association’s website, as of 9.05am, the domestic gold bar buying price is set at 42,200 baht per baht weight, with a selling price of 42,300 baht. For 96.5% purity ornamental gold, the buying price is 41,447.44 baht per baht weight, with the selling price at 42,800 baht.
Meanwhile, the global gold price, referred to as Gold Spot, is reported to be at 2,610.00 US dollars per ounce, reported KhaoSod.
The summary of gold prices on this date, as per the first announcement, includes the following: gold bars are bought at 42,200 baht per baht weight and sold at 42,300 baht, while ornamental gold is bought at 41,447.44 baht per baht weight and sold at 42,800 baht.
In related news, Gold’s role in providing financial stability amid global uncertainties is gaining attention as the world moves into 2025.
Traditionally linked to prosperity and wealth in Thai culture, gold remains a symbol of celebration during significant family events such as weddings and birthdays. Despite societal changes, gold’s cultural significance continues to drive strong consumer demand in Thailand, evidenced by the nation’s leading growth in the ASEAN market for two consecutive quarters in 2024.
The pursuit of financial inclusion is a major policy objective globally, with gold playing a crucial role in this endeavour. By enabling access to savings, credit, insurance, and payment systems, financial inclusion fosters economic growth. When people are financially secure, they are more inclined to invest in or establish businesses, further bolstering economic development.
