NAKHON RATCHASIMA, Thailand – Gold prices continue to surge, reaching record highs daily, prompting a surge in gold sales across Korat. The sharp increase has forced 6-7 small gold shops to shut down, unable to sustain operations.
On February 11, gold shops in Nakhon Ratchasima were packed with residents selling gold jewelry and bars. Prices peaked at 47,350 baht per baht-weight in the morning before fluctuating 12 times by noon, settling at 46,147 baht for gold jewelry and 47,000 baht for gold bars.
Authorities have stepped up security at gold shops to prevent theft amid the price surge. Many sellers regret selling gold in the past when prices were lower, while buying activity has dropped significantly, with only 30% of previous daily purchases.
Experts predict that if prices continue rising, at least 10 more small gold shops in Korat may shut down in 2025. (TNA)
