[BANGKOK] Thailand will expand the authority of its central bank in order to better supervise online gold trading, the bank’s governor Vitai Ratanakorn said on Friday (Jan 9).
The Bank of Thailand has blamed gold traders for driving up the baht, which soared more than 10 per cent against the US dollar in 2025. Vitai told reporters that gold trading apps in Thailand have been linked increasingly to grey capital and abnormal baht fluctuations.
On days when the baht grew by abnormal levels, app-based gold traders were found to be responsible for large amounts of US dollar sales, driving up the local currency, he said.
Under new requirements introduced over the last three months, all gold transactions valued at more than US$200,000 will require clear sourcing and documentation before it is allowed to go ahead, he said.
Limits will also be set on individual baht trading in order to reduce the volatility of the currency, he said. REUTERS
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