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Thailand is one of the largest gold markets in ASEAN. Thai investors have a strong, long-lasting relationship with gold: 46% of those we surveyed owned it in some form. But there is potential for the gold industry to better serve Thailand’s retail investors and our unique insights identify such opportunities.

Within Thailand, we conducted:


interviews with retail investors across the country.


Gold is held primarily for security but also for profit motives

Thai investors are aware of gold’s role as a safe haven. They are most likely to say it’s primary role is for wealth protection and long-term returns. But they are also confident in using gold for shorter-term goals, responding to price moves in order to generate profits.

Main role of gold as an investment product


To protect my wealth


To make good returns (in excess of inflation) in the long term


Speculative/high risk with potential for very high returns

The market has potential to expand.

Ownership of gold is high, but there is room for the market to grow. 20% of Thai investors say they have never bought gold before but would consider investing in it. To do so, the industry must help investors overcome issues such as a lack of trust, and improve awareness of affordable gold investment options.

Thailand 3% 77% 20%

Considering buying in gold
Has bought in the past

Considering buying in gold
Never bought in the past

Won't consider buying in gold

Digitisation could improve access to gold.

Thai investors would benefit from greater digitisation of the gold market. Easy, round-the-clock access to gold investment, as well as greater access to gold via banks were identified as desirable options. Online channels are a key source of information for Thai investors - a seamless transition from research to making an investment may increase participation.

Online channels are a key source of investment information

Sources of information

Social media
Financial websites/mobile apps
Financial advisors, brokers or investment specialists

We hope these insights provide the industry with the tools it needs to develop, enhance and – ultimately – grow Thailand’s gold investment market.

Download the retail
insights Investment report for Thailand
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