Thailand's economy has not fully recovered, and gold prices continue to surge, at times surpassing 80,000 baht per baht-weight gold. Yet, gold shops remain lively.
Aniphat Srirungtham, Chief Marketing Officer of Aurora Design Public Company Limited (AURA), shared insights. He explained that although gold prices have risen, customers continue to purchase steadily, partly due to ongoing global uncertainties and central banks' continued gold acquisitions. The company believes that gold prices have more upside potential than downside risk. Moreover, prices are expected to remain elevated, with global financial institutions forecasting levels as high as 6,000 US dollars per ounce.
. Additionally, Thai consumers tend to buy gold as liquid assets for emergencies. This behavior keeps gold shop transactions busy, not only with buying and selling but also pawning. AURA operates a gold pawn business called “Gold for Cash,” which is projected to grow to 12 billion baht in 2026 from 8 billion baht in 2025. Customer insights reveal increased usage during school holidays or before term starts. Over 50% of customers who pawn gold only take partial cash instead of the full value. Some repay interest and redeem their gold within a week. The annual interest rate is 15%.
Currently, gold business revenue accounts for over 90% of AURA's total income and contributes 60% of profits. The company expects at least 10% growth in this segment in 2026 from a 2025 base of 30 billion baht. The “Gold for Cash” business contributes 20% of the company's profit. The market still has growth potential from a total market size estimated at 200-300 billion baht, including competitors such as other gold shops and pawnshops.
For the year 2026, AURA is collaborating with The Walt Disney Company (Thailand) Limited (Disney) to launch a special collection of gold sheets and cards featuring Disney's Mickey & Friends. More collections are planned this year. This partnership aims to attract younger customers and new buyers by making gold purchases more accessible. The gold sheets start at weights of 0.1 gram (762.50 baht), 0.2 gram (1,275 baht), and 0.5 gram (2,812.50 baht).
“Now that gold prices are around 80,000 baht per baht-weight, it can be difficult for early-career workers to afford. Also, younger customers under 30 years old, particularly those aged 25-35, have increased from 15% to 25% of total customers. We believe Disney-themed gold sheets will attract more of this group.”
This Disney collaboration is expected to generate sales in the hundreds of millions of baht for this project alone, with marketing budgets exceeding 10 million baht throughout the year.
“The marketing strategy focuses on creating emotional value through designs linked to popular Disney characters, supported by campaigns integrating both in-store and online channels to reach a wider audience, including traditional customers, collectors, and younger generations.”
To expand the customer base in 2026, AURA plans to open 200 new branches, reaching 890 by the end of the year, focusing mainly on locations outside shopping malls. The expansion will involve investments in the tens of millions of baht and ongoing partnerships with various mall operators. While most new branches will serve Thai communities, some locations like Pattaya have a foreign customer share as high as 25%.
*For example, on 12 March 2026, the buy price for gold bars was about 77,900 baht per baht-weight, with a selling price of 78,100 baht per baht-weight. From 13 to 19 March 2026, the embossing fee will be reduced to 250 baht from the usual approximately 500 baht.
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