Bangkok: Private sector supports central bank's control of gold prices, citing high value but low income for the public, and warns of risks to Thai exports due to a strong baht. The private sector agrees with the Bank of Thailand's measures to control gold trading, viewing it as the correct approach, as high-value gold trading has become one of the factors supporting the strengthening of the Thai baht.

According to Thai News Agency, Mr. Wisit Limluecha, Vice Chairman of the Thai Chamber of Commerce, stated that large-scale gold trading does not improve the real economy, nor does it increase production, employment, or the income of most people. Meanwhile, the export sector has been affected by the strong baht during a period of global economic slowdown and high uncertainty.

Regulating the gold market is necessary, especially controlling the inflow and outflow of funds legally to prevent the gold market from being used as a channel for illicit capital or money laundering. It was also stated that such measures do not constitute currency manipulation and are unlikely to cause increased scrutiny from the United States, as they concern domestic regulation. Furthermore, the impact of gold prices on exchange rates is a new factor that even the US assessment criteria have not yet considered.

However, Mr. Wisit expressed concern that the Thai baht's appreciation to 31 baht per US dollar is very strong, and a drop to 30 baht would severely impact Thai exporters, especially given high labor and energy costs. This makes the strong baht the number one risk for Thai businesses currently, surpassing concerns about import tariffs and other uncertainties, and directly affecting the competitiveness of Thai businesses in the global market.