Bloomberg has reported that Thailand’s Finance Ministry and the Bank of Thailand (BOT) are considering imposing a tax on gold traded online and settled in baht. The measure is aimed at slowing the baht’s rapid appreciation, partly fuelled by dollar inflows linked to gold sales.
A source, who requested anonymity as the information has not been made public, noted that exemptions may apply to gold traded in US dollars, futures contracts, or purchases made directly from gold shops.
The move signals an attempt by Thai authorities to curb gold exports while raising costs for domestic investors acquiring gold bars. Dollar inflows from gold transactions have been identified as one of the factors strengthening the baht, the source added.
Following the news, the baht weakened by as much as 0.6% in intraday trade to 31.92 per US dollar — its steepest fall since July 31, 2025.
