BANGKOK, Thailand – The Gold Traders Association forecasts that gold prices in Thailand could soar to 46,000 Baht per baht weight in 2025, driven by key factors such as the anticipated “Trump 2.0” policies, BRICS monetary strategies, continued gold accumulation, and ongoing geopolitical tensions.
Today’s gold prices (January 2, 2025) opened with a 50 Baht decline, bringing gold bullion prices to 42,600 Baht per baht weight and gold ornaments to 43,100 Baht. At 9:48 AM, prices were adjusted for the second time, dropping another 50 Baht to 42,550 Baht for bullion and 43,050 Baht for ornaments.
According to Mr. Worachai Tangsitpakdee, Deputy Secretary-General of the Gold Traders Association, gold prices began 2025 with a 250 Baht surge but eased today due to the strengthening of the Thai Baht. Meanwhile, global gold prices are on the rise, presenting continued opportunities for investment. However, the trajectory of the Thai Baht remains a key factor to monitor as it may influence further price adjustments.
Last year, gold prices grew by an exceptional 26-27%, significantly above the average annual growth of 7-10%. This growth was fueled by geopolitical challenges and market expectations of four Federal Reserve interest rate hikes in 2025. In December 2024, the Fed shifted its stance, signaling fewer rate increases due to persistent inflation, which led to a year-end dip in gold prices.
Looking ahead, global gold prices are projected to potentially reach $3,000 per ounce this year. In Thailand, the price per baht weight might touch 46,000 Baht. The impact of Donald Trump’s economic policies, as he takes office on January 20, remains a pivotal factor. His previous “Trump 1.0” trade war policies significantly influenced gold price increases. Additionally, BRICS nations’ continued gold accumulation and ongoing geopolitical tensions will play critical roles in shaping the gold market. (TNA)
