Gold shops see brisk trade as prices fall 1,550 baht, drawing buyers in Khon Kaen

Khon Kaen — On Saturday, October 31st, 2026, gold shops in the Khon Kaen area experienced a surge in customer activity as gold prices dropped by 1,550 baht, encouraging buyers to acquire jewelry and swap existing pieces for larger quantities in anticipation of a future price recovery. Uthen Gold Shop, located in the Khon Kaen municipality, attracted large numbers of customers who lined up to buy gold jewelry, such as necklaces and rings, with the metal now selling for 63,000 baht per baht-weight, while gold bars were priced at 62,200 baht per baht-weight.

Throughout the day, new buyers kept arriving, many using their savings to invest in the commodity. Some individuals brought their existing jewelry to exchange for heavier pieces, convinced that current prices might be among the lowest in the year. Many buyers still held onto the hope that gold prices would eventually rebound, as they have in the past.

Ekkalak Chanawirat, the owner of Uthen Gold Shop, explained that global gold prices had continued to fall due to several factors, including the US dollar strengthening and the economy weakening. He noted that globally, investors began to favor the US dollar over gold, traditionally seen as a safe-haven asset, as they sought opportunities for quicker returns from currency movements.

Ekkalak also mentioned the ongoing conflict in the Middle East and fluctuations in oil prices as factors influencing the gold market. He stated that gold appeared to be in a downward trend, but it was still unclear how far prices might fall. For individuals planning to buy gold as a long-term store of value, Ekkalak recommended that the current prices presented an attractive buying opportunity.

However, he cautioned investors against rushing into large commitments and advised them to keep a close eye on global developments. He pointed out that international factors could push gold prices either lower or higher, making the market's future direction uncertain. For those looking to buy and hold gold, Ekkalak considered the present time to be one of the most favorable periods to make a purchase.