Bank of Thailand plans to tighten regulations on online gold trading as its price soars

BANGKOK (AP) — The Bank of Thailand plans to tighten regulations on online gold trading to curb the impact of fluctuating prices on the local currency.

The new measures will not have a big impact to gold trading, which has become increasingly popular, but will improve transparency of online platforms, the central bank's assistant governor, Pimpan Charoenkwan, said Friday.

The regulations, which will take effect in March, will cap online gold transactions conducted in Thai baht at 50 million baht ($1.6 million) per user per day. Any transaction exceeding that limit will require approval from the authorities.

However, the rules will not apply to users who already were holding more than 50 million baht worth of gold in their accounts before the end of January. They will be allowed to sell their holdings back to platform operators without seeking additional permission.

The regulations will also not apply to gold trades in foreign currencies or to physical gold transactions.

Pimpan said gold traders will also be required to maintain some transaction records, and regularly report those activities to the Bank of Thailand.

The international price of gold has more than doubled this year and earlier this week topped $5,000 per ounce for the first time.

Gold prices in Thailand surged above 80,000 baht ($2,545) per baht-weight for the first time on Thursday, before dropping sharply on Friday, highlighting the volatility that has raised concerns.

Baht-weight is the standard unit for measuring the weight and purity of gold in Thailand. It usually is 15.244 grams (about 0.54 ounces) for 23 karat gold bars and about 15.16 grams (0.53 ounces) for gold jewelry, but varies slightly depending on purity.

Thailand has never properly regulated gold trading though it's a major investment method in the country, the Bank of Thailand's governor, Vithai Ratanakorn, said in a livestreamed speech to an economic seminar on Wednesday.

“Collecting gold is already a culture in Thailand, and these past few years the stock market has underperformed, so more people turned to gold trading,” he said.

Gold shops serve as de facto financial institutions in Thailand. Many established shops operate online platforms, allowing customers to buy and sell gold without going in person.

Online gold trading can significantly affect the baht, Vithai said. When gold prices surge, Thai investors tend to sell gold in large volumes. Gold shops then sell the gold in U.S. dollars and convert the proceeds back into baht, causing its value to rise.

He also said the new regulations will also help combat money laundering.

A gold jeweler weighs gold bars for sale in Bangkok, Thailand, Thursday, Jan. 29, 2026. (AP Photo/Sakchai Lalit)

A customer puts gold bars on a basket at a gold shop in Bangkok, Thailand, Thursday, Jan. 29, 2026. (AP Photo/Sakchai Lalit)

A gold jeweler weighs a gold bar for sale in Bangkok, Thailand, Thursday, Jan. 29, 2026. (AP Photo/Sakchai Lalit)

Customers que up outside a gold shop in Bangkok, Thailand, Thursday, Jan. 29, 2026. (AP Photo/Sakchai Lalit)

Customers crowd a gold shop in Bangkok, Thailand, Thursday, Jan. 29, 2026. (AP Photo/Sakchai Lalit)

QAMISHLI, Syria (AP) — The Kurdish-led Syrian Democratic Forces announced a new agreement Friday with the country's central government intended to stabilize a ceasefire that ended weeks of fighting and to lay out the steps toward integration between the two sides.

Under the agreement, the SDF said, security forces affiliated with the Syrian Ministry of Interior would go into the cities of al-Hassakeh and Qamishli in the Kurdish heartland, which they had previously been barred from entering, and the process of integrating SDF and government forces would begin.

This would include formation of a new military brigade comprising three brigades from the SDF, in addition to the formation of a brigade of SDF fighters within a government brigade in Aleppo province.

Local institutions in the Kurdish-led government of northeast Syria — which has operated as a de facto autonomous zone for years — and their employees would be integrated into state institutions.

The agreement also includes “civil and educational rights for the Kurdish people, and guaranteeing the return of the displaced to their areas,” the statement said.

“The agreement aims to unify the Syrian territories and achieve the full integration process in the region by enhancing cooperation between the concerned parties and unifying efforts to rebuild the country,” it said.

There was no immediate statement from Damascus, but Syrian state TV cited an unnamed official confirming the agreement.

The SDF lost most of its territory in northeast Syria to a government offensive after intense clashes erupted in the northern city of Aleppo on Jan. 6, following months of failed negotiations to implement an integration deal.

Syria’s new leaders, since toppling former President Bashar Assad in December 2024, have struggled to assert their full authority over the country torn by nearly 14 years of civil war. An agreement was reached in March that would merge the SDF with Damascus, but it didn’t gain traction.

Meanwhile the U.S., which had long been the main backer of the SDF as the group fought against Islamic State militants, has moved closer to Damascus under new interim President Ahmad al-Sharaa. The U.S. did not intervene military in this month's fighting but pushed the two sides to make a deal.

A truce was reached last week between the two sides and has been largely holding. Friday's announcement appears to be a step toward solidifying the ceasefire.

People cross a damaged bridge over the Euphrates River in Raqqa, Syria, Sunday, Jan. 25, 2026. (AP Photo/Ghaith Alsayed)

Soldiers carry coffins during the funeral of Kurdish-led Syrian Democratic Forces (SDF) fighters killed earlier this month during clashes with Syrian government forces, in Qamishli, northeastern Syria, Wednesday, Jan. 28, 2026. (AP Photo/Baderkhan Ahmad)