Bangkok: Gold prices saw significant fluctuations throughout the day, with the market closing down by 1,750 baht. This has led to worries among people who have started selling their gold. The Department of Internal Trade is inspecting gold shop scales following these sharp fluctuations in prices.
According to Thai News Agency, the Gold Traders Association reported the buying and selling prices of gold from 9:07 a.m. to 4:57 p.m. today, April 23, 2025. The price of gold fluctuated over 37 times, with the market closing down by 1,750 baht. Gold bars were bought at 52,600 baht per baht and sold at 52,700 baht per baht. Gold ornaments had a buying price of 51,650.12 baht per baht and a selling price of 53,500 baht per baht.
Gold prices declined in line with global market trends after a rapid increase from $3,000 per ounce to $3,500 per ounce in just 39 days, resulting in a 30% return and prompting profit-taking selling pressure. Additionally, investors have eased their concerns regarding the trade war between the United States and China.
Reporters visited the Yaowarat Bangkok gold shop inside Big C Saphan Khwai, where the atmosphere was bustling with people inquiring about gold prices. Most people opted to sell their gold today, with fewer individuals purchasing. Many expressed concerns over the sharp fluctuations in gold prices.
Mr. Witthayakorn Maneenet, Director-General of the Department of Internal Trade, emphasized the importance of accurate price signs and scales amidst the fluctuating gold prices. He noted that accurate scales are crucial during times of soaring gold prices, as even slight deviations in weight can have significant impacts. Scales that have passed inspection will carry a certification sticker from the Department of Internal Trade.