Thailand Q2 gold investment demand strongest since 2019

MGR Online•Economy•19d ago

Reader Briefing

Thailand and Indonesia drove strong gold demand in the ASEAN region during the second quarter of 2026.

•Thailand's demand for gold bars and coins for investment in Q2 2026 reached its highest level since 2019.
•The World Gold Council reported a 10% year-on-year increase in Thai investment gold demand, totaling 10.9 tons.
•New generation investors and gold saving accounts are contributing to the growth of the Thai gold market.
•Global gold demand in the first half of 2026 increased by 2% year-on-year to approximately 2,522 tons.

Overview

•Thailand's demand for gold bars and coins for investment in Q2 2026 rose 10% year-on-year to 10.9 tons.
•The correction of domestic gold prices encouraged Thai investors to buy during the price dip.
•Gold jewelry demand in Thailand decreased 5% year-on-year to 1.6 tons in Q2 2026 due to price volatility affecting consumer confidence.
•Shaokai Fan noted that new generation Thais view gold as a tool to hedge against currency and market volatility.
•Global central banks had net reserve gold purchases of 289 tons in Q2 2026, a 62% increase year-on-year.
•Total global gold supply in Q2 2026 remained stable year-on-year at 1,269 tons.
•Global gold jewelry demand fell 17% year-on-year to 278 tons as high prices pressured consumers to buy lighter products.
•Louise Street expects investment to remain the primary growth driver for the second half of 2026, with OTC markets and Asian investors playing a prominent role.

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Key Quotes

Shaokai Fan

"Thailand's gold market remained strong in the second quarter; although investment demand slowed from the high levels at the start of the year, Thai investors' interest remains good."

ตลาดทองคำของไทยยังคงแข็งแกร่งในไตรมาสที่ 2 แม้ความต้องการด้านการลงทุนจะชะลอตัวลงจากระดับสูงในช่วงต้นปี แต่ความสนใจของนักลงทุนไทยยังอยู่ในระดับที่ดี

Louise Street

"The rise in gold prices at the beginning of the year slowed and reversed in the second quarter, with prices entering a correction phase and stabilizing after falling from record highs."

การปรับตัวขึ้นของราคาทองคำในช่วงต้นปีได้ชะลอตัวและพลิกกลับในไตรมาสที่ 2 โดยราคาเข้าสู่ช่วงปรับฐานและเคลื่อนไหวทรงตัวหลังลดลงจากระดับสูงสุดเป็นประวัติการณ์

Key Entities

Organization

World Gold Council(สภาทองคำโลก)ℹ️

An organization that releases reports on global gold demand trends.

Metals Focus

A provider of detailed data included in the World Gold Council's Q2 2026 report.

Place

Thailand(ประเทศไทย)ℹ️

A key driver of gold demand in the ASEAN region with strong investment demand in Q2 2026.

Indonesia(อินโดนีเซีย)ℹ️

A country acting as a core driver of the gold market in the ASEAN region alongside Thailand.

ASEAN(อาเซียน)ℹ️

A region where Thailand and Indonesia are primary drivers of gold demand.

Asia(เอเชีย)ℹ️

A region that saw a net gold ETF inflow of 70 tons in the first half of the year.

USA(สหรัฐฯ)ℹ️

A country whose monetary policy and dollar value may affect Western gold ETF interest.

Person

Shaokai Fan(เซาไก ฟาน)

Head of Asia Pacific (excluding China) and Head of Global Central Banks at the World Gold Council.

Louise Street(หลุยส์ สตรีท)

Senior Market Analyst at the World Gold Council.