On May 7, 2025, gold prices in Thailand experienced significant fluctuations, with the Gold Traders Association announcing a cumulative increase of 100 baht throughout the day. This marked a notable adjustment as the market responded to international gold trends and local demand.
As of 17:15 local time, the selling price for gold ornaments was set at 53,200 baht per baht weight, while gold bullion was priced at 52,400 baht for selling. The buying prices for 96.5% purity gold stood at 51,362.08 baht for ornaments and 52,300 baht for bullion, according to updates from the Gold Traders Association.
The day's trading saw gold prices adjusted 20 times, reflecting the volatility in the market. The first adjustment occurred at 09:03, where prices were raised by 100 baht, indicating a robust start to trading. Following this, the prices continued to fluctuate throughout the morning and into the afternoon, with various increments and decrements recorded.
For instance, at 09:28, the buying price for gold bullion rose to 52,400 baht, with a selling price of 52,500 baht. Similarly, the buying price for gold ornaments increased to 51,453.04 baht, with a selling price of 53,300 baht. This trend continued with minor adjustments, illustrating the dynamic nature of the gold market.
By midday, the prices reflected a slight decline, with the buying price for gold bullion dropping to 52,300 baht and the selling price remaining at 52,400 baht. The ornament prices mirrored this pattern, maintaining a buying price of 51,362.08 baht and a selling price of 53,200 baht.
As the day progressed, the fluctuations continued. For example, at 14:17, the buying price for gold bullion was reported at 52,350 baht, while the selling price was 52,450 baht. The ornament prices remained consistent with the previous rates, indicating stability amidst the fluctuations.
Internationally, the gold spot price was reported at 3,384.00 USD per ounce, reflecting global trends that have influenced local prices. The World Gold Council noted that demand for gold jewelry in the first quarter of 2025 had been affected by rising prices, which have reached new highs, prompting a decrease in local demand.
In Thailand, the demand for gold jewelry has decreased to 1.7 tons, an 8% drop compared to the same period last year. This decline is attributed to the soaring prices, which have made gold less accessible to many consumers. However, the overall market for gold jewelry remains strong, with a global increase in spending on gold jewelry by 9% year-on-year, totaling approximately 35 billion USD.
Despite the challenges posed by high prices, analysts suggest that consumer interest in gold remains robust, particularly as a hedge against inflation. The adjustments in local prices reflect this ongoing demand, as consumers continue to navigate the complexities of the gold market.
Looking ahead, analysts predict that the market may stabilize, especially if global economic conditions improve. The Federal Reserve's upcoming decisions regarding interest rates are also anticipated to impact gold prices moving forward. Currently, the market expects the Fed to maintain rates at 4.50%, which could further influence gold demand.
In summary, gold prices in Thailand on May 7, 2025, showcased a day of significant adjustments, reflecting both local and international market trends. With prices fluctuating throughout the day, the Gold Traders Association's updates provided essential insights for investors and consumers alike.
As the market continues to evolve, stakeholders are advised to keep a close eye on both local and global developments that could affect gold prices in the coming weeks.
