thailand curb gold

Thailand to Curb Gold Trading to Stabilize Baht, Combat Money Laundering

BANGKOK – Thailand is set to introduce sweeping measures to limit speculative gold trading and tighten financial oversight, aiming to shield the baht from volatility and crack down on illicit financial flows. The move comes as authorities link a record-breaking rally in gold prices to pressure on the local currency and growing concerns over money laundering.

US Incursion Into Venezuela Fuels Thai Baht Rally

Under new draft rules expected this month, the Ministry of Finance plans to cap individual daily online gold trading between 100 million and 200 million baht. Additional measures will include limiting individual foreign currency exchanges at money changers to 800,000 baht per day and tightening reporting requirements for physical gold transactions.

The measures were announced by Bank of Thailand Governor Vitai Ratanakorn following a meeting chaired by Prime Minister Anutin Charnvirakul. Authorities highlighted that daily gold trading volumes in Thailand have at times exceeded those on the Stock Exchange of Thailand, with gold-related transactions accounting for 50–60% of total U.S. dollar trading at peak periods.

“The baht’s recent abnormal strength is partly driven by gold transactions conducted in the local currency, particularly trading via baht-based applications,” Vitai stated. He noted that on days of sharp baht appreciation, app-based gold traders were responsible for significant dollar sales, driving up the local currency.

To ease pressure on the baht, major Thai gold dealers—representing about 90% of the market—have proposed upgrading online platforms to allow buying and selling in U.S. dollars within three to six months. Total gold trading volume reached an estimated 10 trillion baht ($318 billion) in 2025, doubling from the previous year.

Parallel to currency stabilization efforts, the government is intensifying its campaign against grey capital and money laundering. Prime Minister Anutin announced the creation of a Data Bureau designed to integrate financial data across banking, gold trading, and digital assets in real time.

“Illicit and grey-money transactions in Thailand were once viewed as operating in a haven for money laundering,” said Finance Minister Ekniti Nitithanprapas. “Over the past three to four months, we have significantly tightened controls. We are doing everything possible to turn what was once a laundering paradise into a city of scrutiny.”

Key steps include:

  • Empowering the Anti-Money Laundering Office (Amlo) as the central body for gold transaction data.

  • Reviewing and potentially lowering the 2-million-baht threshold for mandatory gold transaction reporting.

  • Requiring digital asset service providers to enforce the Travel Rule, ensuring sender and recipient data are collected and retained for traceability.

Authorities are particularly concerned about a more than tenfold surge in gold exports to Cambodia—reaching about 105 billion baht—which is suspected to be linked to scam operations, online gambling, and transnational crime networks.

Thailand Tightens Reporting on Non-Resident Cash Inflows to Manage Baht

The new regulatory push aims not only to stabilize the baht but also to close loopholes that have allowed Thailand to become a channel for illicit financial flows, marking a significant shift toward tighter surveillance and interagency coordination in the financial sector.

-Thailand News (TN)

Similar Posts

  • |

    Independence Day stalls bring festive rush

    With Pakistan’s 79th Independence Day approaching, markets across the city have come alive with stalls selling national flags, badges, flag-themed clothes, toys, caps, horns and other decorative items. Vendors have set up stalls at major commercial centres, markets, streets and residential areas. Children, youngsters and families are visiting these stalls to buy flags, badges, dupattas, ladies’ suits and children’s outfits featuring the national colours. Large and small horns remain among the most popular items, particularly among children and students. However, the continuous and often extremely loud “pee-pee” sounds have disturbed residents in several neighbourhoods, affecting their peace and sleep. Youngsters and children have also been setting off firecrackers, including Chinese-made varieties, adding to the noise in residential areas. Rising inflation has also pushed up the prices of Independence Day items, with vendors saying the cost of flags and flag-themed clothing has nearly doubled. Large horns that produce particularly loud sounds are selling for around Rs150 to Rs200.

  • | |

    IHC reserves verdict on judges’ appointments ple…

    The Islamabad High Court (IHC) on Thursday reserved its verdict on the maintainability of a petition challenging the delay in the approval of judicial appointments for high courts across the country. Justice Arbab Muhammad Tahir heard the petition filed by advocate Luqman Zafar Chaudhary through his counsel Zahid Asif Chaudhry. The petitioner requested the court to direct President Asif Ali Zardari to approve a summary forwarded by the prime minister for the appointment of 19 additional judges and the confirmation of five judges in the Islamabad, Lahore, Sindh, Balochistan and Peshawar high courts. During the hearing, the petitioner’s lawyer argued that the Judicial Commission of Pakistan (JCP) had recommended the appointments during its meetings held on July 20 and 21. He said the summary was later sent to the president for approval, but no decision has been made despite the passage of more than two weeks. The counsel maintained that the delay is affecting the functioning of the superior judiciary. He informed the court that the tenure of an additional judge of the Sindh High Court has already expired, while the terms of four additional judges of the Peshawar High Court are expected to end within the coming days. The lawyer also told the court that reports suggest the government may issue notifications regarding the appointments within the next 48 hours. Justice Tahir repeatedly questioned whether a constitutional petition could legally be maintained against the president. He asked the petitioner’s counsel to cite any previous court ruling in which a writ had been issued against the president regarding the exercise of constitutional powers. The court observed that the judgments presented by the petitioner did not support the argument that courts could direct the president in matters governed by Article 48 of the Constitution. Justice Tahir asked whether any legal precedent existed requiring the president to act on such matters through a judicial order. The petitioner’s counsel argued that Article 48 requires the president to act on the advice of the prime minister or the cabinet. He maintained that the president has no independent authority to indefinitely delay judicial appointments once the Judicial Commission has completed its recommendations. The lawyer further argued that the Ministry of Law is the competent authority to issue appointment notifications after the completion of the constitutional process. He claimed that the president’s role in the appointment process is largely formal and that unnecessary delays should not hinder the functioning of the judiciary. The petitioner requested the court to seek responses from the federal government, the Prime Minister’s Office and the Ministry of Law regarding the status of the pending summary. However, the court declined to issue notices at this stage.

  • Happy Cows, Higher Income for Farmers with ‘Cocoa-Based Mineral Supplement’

    A Chulalongkorn University researcher has turned the challenge of low-grade cocoa production into an opportunity by developing an innovative “cocoa-based mineral supplement” that helps livestock farmers reduce costs, improve the quality of Thai beef cattle, lower the incidence of mastitis in dairy cows, and reduce greenhouse gas emissions—advancing a Bio-Circular-Green (BCG) economic model for genuine […]

  • | |

    KP CM launches mobilisation campaign for September…

    PESHAWAR: Khyber Pakhtunkhwa Chief Minister Muhammad Sohail Afridi has launched a province-wide street mobilisation campaign from Khyber district ahead of the September 27 long march. Addressing a rally in Khyber, Afridi said the campaign had formally begun from the historic Bab-e-Khyber and would continue across the country before culminating in Islamabad. The movement has been given the name “Long March Bil-Qist — A Long March for Justice.” According to the chief minister, its stated objectives include seeking the release of PTI founder Imran Khan through constitutional and peaceful means, demanding equal application of the law and calling for accountability for those responsible for alleged injustice and oppression. Afridi urged young people across Pakistan to participate in the September 27 march, saying the youth had an important role in determining the country’s political future. He said the mobilisation launched in Khyber would gradually be expanded to other parts of the country and continue until the movement achieved its declared objectives. The chief minister praised residents of Khyber for their participation in the campaign. He said rally participants had travelled around 30 kilometres while demonstrating enthusiasm and commitment to the movement. Afridi claimed that preparations were under way to mobilise two million people for the September 27 march. He said more than 100,000 participants from Khyber district alone were expected to join the Islamabad-bound movement. He also claimed that membership of the campaign seeking Imran Khan’s release had reached 520,000, with Punjab currently having the largest number of members. The chief minister expressed confidence that large numbers of people from different parts of Pakistan would participate in the march. Speaking about the role of young people, Afridi said frustration with the existing political and governance system was growing among the younger generation. He called on the youth to remain determined despite political and other challenges. He argued that if young people demonstrated their strength and determination collectively, the movement could become a major political force. Afridi also criticised those he accused of contributing to Imran Khan’s imprisonment, weakening democratic institutions and affecting the country’s governance system. He maintained that the movement would remain peaceful and constitutional while pursuing its political demands. The chief minister described September 27 as a potentially significant day for Pakistan, saying participants would seek to influence the country’s political direction and play a role in determining its future.

  • British Man Dies Three Weeks After Koh Samui Motorbike Crash, Family Pays Tribute

    A 23-year-old British man has died nearly three weeks after a devastating motorbike accident on the Thai island of Koh Samui left him in a coma, his family has confirmed. Tiger Duggan, who was originally from Milton Keynes but had been living and working in Perth, Australia, passed away in a Bangkok hospital surrounded by […]

  • Queen Suthida and Olympic Champion Kipchoge Headline Successful Amazing Thailand Marathon

    BANGKOK – In a display of royal patronage and sporting excellence, Her Majesty Queen Suthida presided over the start of the Amazing Thailand Marathon Bangkok 2025 at Sanam Luang on November 30. The event witnessed a remarkable spectacle as the Queen, alongside Kenyan Olympic gold medallist and marathon world record holder Eliud Kipchoge, participated in […]

Leave a Reply

Your email address will not be published. Required fields are marked *