Thailand is rapidly emerging as a major force in the global gold market, and the World Gold Council (WGC) expects that it will play a key part in making Southeast Asia the world’s third-largest hub of gold demand after China and India.

According to Shaokai Fan, head of Asia-Pacific (excluding China) and global head of central banks at the World Gold Council, Thailand benefits from a well-established gold industry and early adoption of digital innovation. This combination positions the country to improve market standardisation and achieve long-term growth.

Thailand’s gold demand has remained strong despite worldwide fluctuations. In 2024, it ranked seventh in the world for gold bar and coin demand, with 40 tonnes, marking a 17% annual increase. Jewellery demand declined only 2%, despite an 11% drop in worldwide jewellery consumption, indicating strong investor confidence.

Momentum continued into 2025, with a 25% year-on-year increase in retail investment during the first quarter, hitting its highest level since 2019. The second quarter saw the rise continue, with global demand rising 25% to 12 tonnes.

Digital platforms like Pao Tang are reshaping gold investments by attracting younger investors and increasing financial inclusion.