Thailand Central Bank Tightens Gold Trading Regulations Amid Currency Concerns

The Bank of Thailand is implementing revised gold trading regulations to enhance regulatory oversight and address concerns over currency fluctuations. Governor Ratanakorn has announced these changes, requiring more detailed reporting on gold transactions. This move aims to provide regulators with greater insight into the impact of cross-border settlements on the Thai baht, which has been experiencing significant appreciation recently. Currently, gold is not directly regulated in Thailand. Discussions are underway regarding who will oversee this new regulation. The governor also expressed concerns about potential gold exports to Cambodia and cryptocurrency transactions, both of which pose challenges for regulatory oversight.