Estimated to reach 38,000 baht by the end of year

Gold prices in Thailand surged to record high on Thursday. Domestic gold prices surged following global gold prices, after the Federal Reserve Chair announced a signal to lower interest rates this year. 

The Gold Traders Association of Thailand reported that gold prices changed three times after trading began Thursday morning, increasing by a total of 400 baht per gold baht-weight.

As for Thai gold, it is estimated to reach 38,000 baht by the end of the year. Currently, there has been excessive buying, and various funds that have invested may start selling to make a profit. With gold prices rising rapidly, there is also a possibility of a sharp decline.