Traders expect gold prices to continue to skyrocketListen to this articleTraders queue at a gold shop in Bangkok, Thailand. (File photo: Bangkok Post)Traders say gold prices should continue to rise in the near term after bullion broke through US$4,600 an ounce for the first time on Monday, resulting in the baht’s appreciation despite policymakers’ efforts to stem the rise. Jitti Tangsithpakdi, president of the Gold Traders Association (GTA), said on Monday that gold prices are expected to move in a range of $4,700 to 4,900 an ounce in the third quarter of 2026, and potentially hit $5,000 later in the year. Domestic gold prices soared to a new record high of 67,650 baht per baht-weight, while the baht appreciated against the dollar. “A disruption in the Strait of Hormuz could cause a global oil and gas crisis, sending oil prices to $100 per barrel from about $60 now,” he said.

Source: Bangkok Post January 13, 2026 00:46 UTC