Thai Gold-Trading Curbs Take Effect as Authorities Rein in Baht
An employee holds one kilogram gold bullions at a gold dealer in Bangkok, Thailand.
Photographer: Chalinee Thirasupa/BloombergThailand will implement tough new rules governing retail gold-trading from March 1, hoping to curb speculative activity that’s fueled gains in the baht and weakened the nation’s competitiveness.
Individuals’ online, baht-denominated gold transactions will be subject to a daily limit of 50 million baht ($1.6 million) per person, per platform, according to the Bank of Thailand’s website. The rules exempt US dollar-denominated trades, physical gold shop dealing and futures markets.