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February 12, 2026
Spotlight on Thailand: One of the Most Mature and Dynamic Markets in Southeast Asia
Metals Focus’ latest report turns its attention to Thailand, where retail investors account for roughly 80% of consumer gold demand. This segment has grown sharply, rising from 29 tonnes in 2021 to an estimated 51 tonnes by 2025. Most of this demand is concentrated in 96.5% purity bars and jewellery, underscoring gold’s dual role in Thailand as both a savings vehicle and a form of personal adornment.
The market is also becoming increasingly digital. More than half of all transactions now take place online, supported by Thailand’s distinctive two‑way trading culture, which enhances liquidity and keeps the market highly responsive.
While jewellery remains culturally significant, it plays a smaller role compared with retail investment - totalling just 8 tonnes in 2025 versus 51 tonnes for coins and bars. Meanwhile, strong export flows to destinations such as the US, Hong Kong, India and the Middle East continue to support the wider industry.
Catch Up on Previous Reports from Metals Focus
Previous reports from Metals Focus, plus further publications from LBMA, are available via the LBMA website. If you have any questions, please feel free to get in contact at mail@lbma.org.uk.