Many people view "gold = liquidity" because it is easier to convert into cash compared to other assets. Moreover, gold prices have surged recently, sometimes exceeding 80,000 baht per baht gold, yet people still flock to gold shops to collect, reflecting the saying "Although you can buy smaller amounts of gold, Thais still want to save gold." "gold prices" "liquidity" "asset conversion" "80,000 baht per baht gold" "collectors" "Thai gold savings" "gold shops" "gold demand" "gold market" "gold investment" "gold price surge"
Thanapisarn Kuhapremkit, Chief Executive Officer of GCAP Company Limited (GCAP GOLD). He said that based on Thai consumers’ interest in gold collecting, the company launched a special collection called “GCAP GOLD x Butterbear” featuring gold card bars, gold coins, and charms. They chose to produce smaller gold sizes starting at 0.1 grams to cater to the new generation, fans of Butterbear, and those wanting to accumulate gold gradually, making it easier to purchase and save.
(The selling price of the 0.1-gram gold card bar with the Butterbear design on GCAP GOLD’s Lazada channel is 889 baht.)
In the past two months, this special collection sold 20,000 pieces, aiming to reach 100,000 pieces this year. Sales focus on online channels and gold shops nationwide. New collections are being studied, including a Butterbear gold doll expected to cost no more than 10,000 baht each to ensure accessibility.
This collaboration is a key strategy to "penetrate the retail market." Previously, the company focused mainly on gold trading with gold shops, but starting this year, it aims to revamp its image to reach more diverse customers, especially young people who want to start small gold savings. Currently, there is a gold saving service starting at 100 baht; once enough gold is accumulated, it can be redeemed as a gold bar. It is expected that retail customers will increase to 35-40% of the company’s trading volume from about 20% currently.
Regarding gold investment, Areerat Murachai, Head of Analysis Team at GCAP GOLD, explained that over the past two years, gold prices have continuously risen but are currently consolidating around 69,000 - 70,000 baht per baht gold. If prices do not fall below 60,000 baht, a sideways range of 60,000 - 75,000 baht per baht gold is expected, with potential to build a base for another upward move.
For the remainder of 2026, gold prices face both positive and negative factors. Although ongoing wars might support gold prices, rising oil prices have pushed inflation higher, limiting gold’s sharp rise. If US-Iran negotiations progress positively and become clearer, gold prices are likely to recover.
The recommended accumulation price is estimated at 59,000-60,000 baht per baht gold. For 2026, gold prices may rise partly due to specific Thai factors like a weaker baht, with an initial target range of 75,000-78,000 baht per baht gold, needing to hold at around 5,000 US dollars per ounce.
By late 2026, gold prices may trade between 80,000 - 81,000 baht (5,400 US dollars per ounce). If peace talks progress and become clearer in October, gold prices could hold above 5,000 US dollars per ounce.
Meanwhile, gold prices could eventually reach 100,000 baht per baht gold, but not soon. This would require a gradual rise from 5,000 to 5,400, then 5,600 US dollars, and if a new high at 6,000 US dollars per ounce is achieved (with the baht around 32-33 baht per US dollar), Thai gold would approach 100,000 baht per baht gold.
Currently, gold remains a safe asset. However, before buying gold, consumers should verify the credibility of the gold shop, confirm its actual presence, check if it is listed in the Gold Traders Association, and ensure that purchased gold comes with certificates and verifiable documentation to avoid becoming victims of scams reported frequently in the news.
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