BoT opens hearing on reporting rule for big gold traders

The Bank of Thailand (BoT) has launched a public hearing on new rules that would require large gold traders to report their transactions, in a bid to better monitor trades that could affect the baht and to help tackle suspicious “grey money” flows.

Under the draft criteria, gold traders with average annual turnover of at least 10 billion baht over the past five years will have to report their gold-related transactions to the central bank.

The BoT is accepting comments and suggestions on the proposed regulation on foreign exchange practices via its website from December 9–23, 2025.

According to the background paper released with the consultation, the central bank says the change is driven by a sharp and continuous rise in gold trading volumes, which now have the potential to significantly affect the exchange rate.

To keep the baht stable and support confidence in economic activity, the BoT says it needs better, more timely data on gold transactions. This will help it assess the impact on FX stability and design appropriate monetary and exchange-rate policies going forward.

Until now, domestic gold buying and selling has been largely unrestricted. Under the revised rules, however, traders that meet the threshold – namely those whose average total gold trading value over the past five years is at least 10 billion baht a year – will be required to:

• Report qualifying gold trades via an online platform specified by the BoT.
• Keep related documents for a set period so that the BoT can inspect them when needed.

The central bank acknowledges that the new reporting duty may increase compliance costs for high-volume gold traders and add work for firms that must compile and submit detailed transaction data.

However, it argues that the benefits outweigh the costs, as the rules will:

• allow authorities to track gold transactions that could influence the exchange rate more effectively
• strengthen efforts to maintain FX stability, supporting confidence among businesses and the public
• and ultimately help underpin sustainable economic growth and overall macroeconomic stability.

The BoT adds that closer oversight of gold trades will also make it easier to supervise foreign-exchange transactions by gold shops and dealers, and that the data can be used to reinforce future measures aimed at preventing and cracking down on suspicious or illegal transactions using gold as a channel.