Bangkok: TFEX has partnered with five prominent gold traders to create a Thai gold benchmark price aimed at enhancing wholesale trading in the global market. The initiative aspires to eventually use this benchmark as a regional reference price, ensuring a standardized, transparent, and reliable calculation process.
According to Thai News Agency, Dr. Rinjai Chakrapipat, Managing Director of Thailand Futures Exchange Public Company Limited (TFEX), and five gold traders-Osiris Co., Ltd., Hua Seng Heng Gold Shop Co., Ltd., MTS Capital Co., Ltd., YLG Bullion International Co., Ltd., and GCAP Co., Ltd.-have entered into a memorandum of understanding (MOU) to develop this gold benchmark price. The signing ceremony was attended by Mr. Jitti Tangsitpakdee, President of the Gold Traders Association, at the Thailand Gold Forum 2025. This forum was organized by the Gold Traders Association in collaboration with the World Gold Council and the Gem and Jewelry Institute of Thailand (Public Organization).
Dr. Rinjai highlighted that this collaboration aims to create a reliable reference for wholesale transactions involving significant international trades, including those in different time zones from Thailand. This development could facilitate business expansion and serve as a regional benchmark in the future. The reference price, to be set in dollars, will be announced twice daily and is expected to be published in 2026. She emphasized that this initiative is part of the infrastructure that will benefit Thai industries and support the development of related products. The standardized and transparent calculation process will provide valuable information for investors to make informed investment decisions.