Thai Gold Prices Plummet by 1,000 Baht Amid Market Volatility

Thai gold prices plummeted by 1,000 baht on September 2, after a morning plunge of 1,150 baht. The Gold Traders Association reported 32 intraday price adjustments, indicating high market volatility.

The domestic gold market faced heavy selling pressure due to the strengthening Thai baht and weakening global gold prices. At the market close of 5:30 p.m., 96.5% gold bars were quoted at a buying price of 67,850 baht and a selling price of 68,050 baht per baht-weight.

The decline in domestic gold prices aligns with the weakening trend in global gold prices. Analysts view the recent appreciation of the Thai baht as an additional pressure factor.