Thai Gold Prices Drop as Global Market Hits Five-Month Low Amid Middle East Tensions

Key summary

The Thai Gold Trading Association announced a domestic price adjustment on October 24, 2026, with gold bar buy prices at 63,900 baht and sell prices at 64,100 baht. Ornamental gold buy prices were set at 62,625 baht and sell prices at 64,900 baht. Global gold prices fell to a five-month low of $3,986.50 per ounce, dropping more than 20% from early 2026 highs. The Thai baht weakened by 0.13%, partially offsetting the domestic price decline relative to global markets. Brent crude oil for December delivery rose above $110 per barrel, reaching a five-month high due to Middle East tensions. Investors forecast via CME-Fed Watch that the US Federal Reserve will hold interest rates at its October 27-28 meeting and raise them in December. Huaxing Heng analysis suggests gold's upward structure is weakening after overselling, warning that a break below $3,940 per ounce could signal a continued downward trend.