# Thailand’s gold rush goes digital as prices soar

- Link: https://www.thailand-business-news.com/markets/commodities/197755-thailands-gold-rush-goes-digital-as-prices-soar
- Published: 2025-03-03T10:09:28+07:00
- Author: J. Allan

Thailand’s deep-rooted love for gold is evolving with the digital age, as online
trading overtakes traditional gold shop transactions. This shift is driven by the
convenience and accessibility of digital platforms, allowing investors to buy, sell,
and monitor gold prices in real time. Younger generations, in particular, are embracing
these modern tools, blending the country’s cultural affinity for gold with the efficiency
of technology.

## Key takeaways

 * Thailand’s gold trade is rapidly shifting online, with mobile apps overtaking
   traditional gold shops.
 * Younger Thais are embracing digital gold trading, leveraging social media-driven
   financial advice.
 * Despite the digital shift, gold remains deeply ingrained in Thai culture as a
   trusted store of value.

With gold prices on a 30-month bull run, millions of Thais are now buying and selling
the precious metal through mobile apps.

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Siri, a 39-year-old office worker, started investing through Krungthai Bank’s Paotang
app, initially purchasing gold for around 6,000 baht ($180). 

She sold her holdings when gold hit $2,000 per troy ounce, only to regret it as 
prices have since surged to near $3,000.

## How is the gold market evolving in Thailand?

By 2023, four of Thailand’s top 10 revenue-generating companies were in the gold
business, surpassing even the country’s ubiquitous 7-Eleven chain.

Hua Seng Heng Group, a 75-year-old family business, is a leader in the digital gold
trade. CEO Tanarat Pasawongse highlights the vast volume of online transactions,
with tens of thousands of customers trading in real-time.

Unlike global investors who buy gold-backed financial instruments, Thais prefer 
physical gold. While traditional gold shops dominate the market, younger generations
are increasingly turning to digital platforms for convenience and accessibility.
Mobile apps and online trading platforms now allow Thais to buy, sell, and track
gold prices in real time, blending tradition with modern technology. Despite this
shift, the cultural significance of gold remains deeply embedded, symbolizing wealth,
stability, and prosperity in Thai society.

The most popular is 96.5% pure gold, traded in “baht” weight units (15.244 grams).
Despite the digital shift, many investors never physically handle their gold.

Younger generations are entering the market through social media-driven financial
advice. As a result, gold trading apps and platforms are flourishing, offering competitive
rates, secure transactions, and educational resources to attract a broader audience.

Gold holds cultural significance in Thailand and is regarded as a stable store of
value. Sompong Vajirakaphan, co-founder of the Thai Gold Traders Association, emphasizes
that gold is considered the king of metals because it never rusts, dissolves, or
loses weight.

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Thailand produces little of its own gold, with most coming from imports. The country’s
largest mine, Chatree Gold Mine, operated by Australia’s Kingsgate Consolidated,
resumed operations in 2023 after a six-year shutdown over environmental concerns.

It has yielded over 1.8 million troy ounces since 2001, valued at more than $5.3
billion at today’s prices.

While 24-karat international gold bars are growing in popularity, Thais still prefer
the familiar 96.5% purity, with transparent pricing at gold shops ensuring trust.
As digital trading surges, Thailand’s gold obsession remains stronger than ever.