Gold Closes August 28 Up 400 Baht; Ornaments Reach 72,550 Baht - finance.biggo.com

AI desk brief

Thailand’s domestic gold market closed Friday, Aug. 28, up 400 baht after a volatile session, with 96.5% gold bars ending at 71,750 baht per baht-weight and 96.5% ornaments at 72,550 baht per baht-weight. The Gold Traders Association said the final quote showed buying/selling for bars at 71,550/71,750 baht and ornaments at 70,115/72,550 baht, with 20 price updates issued through the day.

The move followed a softer open: the first quote at 9:08 a.m. showed only a 50 baht increase from the prior day, with bars at 71,200/71,400 baht and ornaments at 69,781.48/72,200 baht. The article attributes the intraday support to a global spot gold level of $4,580/oz at the time, which helped underpin local pricing despite the prior day’s 350 baht drop on Aug. 27.

Near-term implication is still constructive for gold sentiment in the region: the market is showing high intraday volatility, but price action remains biased higher while spot gold holds elevated levels. The piece also highlights bullish dealer commentary, including expectations for another 1,000–2,000 baht move higher and a possible break above 80,000 baht if supportive global factors persist.