Gold prices tumble THB2,300, with 101 intraday adjustments
This decline was linked to the global spot price for gold dropping below the key US$5,000 per ounce level, driven by profit-taking from large funds.
- Thai gold prices fell by THB 2,300 in a single day amid extreme market volatility.
- The price was adjusted a record 101 times, reflecting significant uncertainty in global markets.
- A key factor in the drop was the global spot price for gold retreating below the US$5,000 per ounce level.
Gold price update on Thursday (February 5), latest gold prices.
The Gold Traders Association reported that gold prices were adjusted 101 times throughout the day.
The latest announcement at 5.01pm, gold prices fell by THB2,300 compared with trading on February 4.
Check today’s prices for gold jewellery and gold bars, selling and buying prices.
Gold prices on Thursday, after the market closes
Gold jewellery
- Buying price: THB71,737.12 per baht weight
- Selling price: THB74,200.00 per baht weight
Gold bars
- Buying price: THB73,200.00 per baht weight
- Selling price: THB73,400.00 per baht weight
Global gold price (Gold Spot)
- US$4,867.00 per ounce
Gold market analysis
Record-breaking volatility: The gold market faced “heavy volatility” today, with the Association announcing price adjustments as many as 101 times, a very high number reflecting uncertainty in global markets.
Sharp, continued drop: After surging by more than THB2,100 on February 4, prices plunged immediately from market open today (down THB1,200 at the open) and continued falling, ending the day down THB2,400.
Downward pressure factors:
Gold Spot: Global gold prices were highly volatile after breaking below the key US$5,000-per-ounce level, moving in a lower range due to profit-taking and portfolio rebalancing by large funds.
