Gold shops see brisk trade as prices fall 1,550 baht, drawing buyers in Khon Kaen

KHON KAEN — 31 October 2026, Gold shops in Khon Kaen saw a surge in customers on Saturday after gold prices fell by 1,550 baht, prompting buyers to purchase jewellery and exchange existing pieces for heavier ones in hopes of profiting from a future price rebound.

Reporters observed large numbers of customers visiting Uthen Gold Shop in Khon Kaen municipality to purchase gold jewellery, including necklaces and rings, following the sharp decline in prices.

Gold jewellery was selling for 63,000 baht per baht-weight, while gold bars were priced at 62,200 baht per baht-weight.

Customers continued arriving throughout the day, with many using their savings to purchase gold. Others brought in existing jewellery to exchange for heavier pieces, believing that current prices could be among the lowest of the year.

Many buyers hoped that gold prices would eventually rise again, as they have in the past.

Ekkalak Chanawirat, owner of Uthen Gold Shop, said global gold prices had continued to decline due to several factors, including the strengthening US dollar and weak economic conditions.

He explained that investors worldwide were increasingly favouring the US dollar over gold, traditionally considered a safe-haven asset, as they sought opportunities for quicker returns from currency movements.

Ekkalak also cited the conflict in the Middle East and oil prices as factors influencing the gold market.

He said gold appeared to be in a downward trend, although it remained unclear how far prices might fall.

For people planning to buy gold as a long-term store of value, he suggested that current prices presented a favourable buying opportunity.

However, he cautioned investors against rushing to commit large amounts of money, advising them to monitor global developments closely.

He said international factors could push gold prices either lower or higher, making the market’s future direction uncertain.

For those intending to buy and hold gold, however, he considered the current period one of the most attractive times to make a purchase.