Bangkok: Gold is still on an upward trend; Thai gold prices are estimated to reach as high as 90,000 baht. Yaowarat (Chinatown) is bustling with people flocking to buy gold after prices surged. The president of the Gold Traders Association estimates that Thai gold prices could reach 90,000 baht if the conflict between the US, Israel, and Iran intensifies, but gold will not reach 100,000 baht this year unless a third world war occurs.
According to Thai News Agency, Mr. Jitti Tangsitphakdi, President of the Gold Traders Association, revealed that gold prices have recently increased by more than US$160 per ounce. Typically, wartime situations create volatility that pushes prices up by around US$100-200. Today (March 2, 2026), the trend remains clearly upward. However, in the short term, gold prices remain highly volatile, and short-term traders should exercise caution. A key factor to monitor is the duration of the conflict. If the situation escalates, gold prices could surge, but if it ends quickly, the increase may not be as drastic.
In the long term, it is estimated that the price of gold has the potential to reach $6,000 by the end of the year, or possibly 90,000 baht in Thai currency. This presents an opportunity for those who bought at high prices or are currently stuck with losses to recover.
Regarding whether the price of gold will reach 100,000 baht, the president of the Gold Traders Association reiterated that the only way for the price of gold to surge to 100,000 baht this year would be if a third world war broke out.
Regarding the price spread between buying and selling gold at physical stores and online during the recent holidays, some gold shops increased their price spread by as much as 2,000 baht. This is seen as a risk management strategy by each shop, as each has its own costs. However, the Gold Traders Association’s price spread remains unchanged at 200 baht, based on world market gold prices.
The president of the Gold Traders Association advises investors to avoid buying and selling gold bars during holidays due to the uncertainty surrounding global market prices.
The atmosphere in Yaowarat, Bangkok’s Chinatown, was bustling with people and investors lining up in front of gold shops to buy and sell gold for speculative purposes, even before the shops opened.
Most of those interviewed were purchasing gold bars, including both small and large-scale buyers, with quantities ranging from 100 to 200 baht weight of gold. For example, Mr. Ampai Kongmanee from Prachinburi province traveled to buy 200 baht weight of gold bars to invest and pass on to his children and grandchildren for financial security.