Rising demand for gold savings in Pattaya as Chinese New Year approaches

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Gold savings favored for angpao gifts as Chinese New Year approaches.

PATTAYA, Thailand – As Chinese New Year 2025 draws near (Jan 27-29), gold savings continue to be a popular choice for gifting “angpao” (red envelopes), preferred over gold jewelry. The global gold price trend remains upward, with local retail prices for gold jewelry at 41,800 baht per baht and gold bars selling for 44,200 baht and buying at 44,100 baht. Prices have risen by over 1,500 baht since the New Year.

The tradition of gifting gold during the pre-Chinese New Year period is believed by Thai-Chinese communities to bring good luck and prosperity for the New Year. Consequently, gold prices tend to rise globally before the Chinese New Year, and Pattaya is no exception, with prices increasing in line with the global economy.



Banjong Bandhunprayuk, owner of Thong Dee Yaowarat Gold Shop and President of Pattaya-Naklua Gold Shop Association, noted that gold trading activity before Chinese New Year 2025 is more vibrant than the New Year period, although still quieter compared to last year’s Chinese New Year. Local events in Pattaya have boosted the purchasing power of business owners, who now favor gold savings over gold jewelry for gifting.

Gold is regarded as a valuable asset for accumulation or investment, offering an easy, safe, and high-value option compared to jewelry. The rising gold prices are influenced by global market trends and geopolitical factors. Gold bar savings are increasingly seen as a practical and secure savings method.

Prices have risen by over 1,500 baht since the New Year.