Gold Prices Rise 50 Baht on October 16
Gold prices in Thailand rose by 50 baht on October 16, with jewelry selling at 66,800 baht per baht unit. Gold bars traded between 65,800 and 66,000 baht, while the global spot price remained at 4,155.50 USD per ounce. Industry leaders forecast a possible surge of 1,000–2,000 baht tomorrow, potentially breaking the 80,000-baht mark.
The Thai Gold Traders Association reported today's gold price update, showing an increase of 50 baht compared to the previous day's close. Gold jewelry sells for 66,800 baht per baht unit, gold bars are purchased at 65,800 baht and sold at 66,000 baht, and 96.5% gold jewelry has a buying price of 64,490.64 baht and a selling price of 66,800 baht. The world gold spot price is 4,155.50 USD per ounce. The association's president predicted that tomorrow's opening could push gold prices up by 1,000 to 2,000 baht, potentially exceeding 80,000 baht. Huaseng Heng offered advice on the best times to buy gold, citing market trend factors.