CHIANG MAI– Police have tightened security around gold shops after the gold price climbed past 60,000 baht per baht-weight. Police have stepped up patrols and urged shop owners to keep CCTV systems fully operational and to improve physical security.
The message is clear: anyone planning a crime should think again, as thousands of CCTV cameras track activity across the city.
Reports from Chiang Mai note that the persistent rise in gold prices has raised concerns about property crimes. Pol Lt Gen Kritthaphon Yisakorn, Commissioner of Provincial Police Region 5, and Pol Maj Gen Yuttana Kaenchanchan, Chiang Mai Provincial Police Commander, have instructed all stations to strengthen measures for gold shop security.
They also asked officers to warn the public and raise awareness to reduce risks.
Pol Col Pratchaya Thisala, Superintendent of Muang Chiang Mai Police Station, joined by Pol Lt Col Thattawi Danpitaktrakul and Pol Lt Col Witsanu Nuanmasit, led a patrol deployment on 8 Oct 2025.
The operation focused on Warorot Market, a busy area with many gold shops, locals and tourists. Teams then visited shops inside the market in the Mueang district to check on safety measures and provide guidance.
Police also promoted practical security steps. These include keeping CCTV systems at 100 percent readiness, installing alarm links to the police, training staff to spot suspicious behaviour, fitting door locks and steel grilles, and expanding direct communication channels with officers.
Gold shop owners responded well and agreed to cooperate.
Officers met Mr Suraphon Owithayakul, Chair of the Chiang Mai Gold Shop Association and owner of “Yong Chiang Long”, to improve coordination. He agreed to act as a contact point, sharing alerts with members so that information spreads fast if an incident occurs.
The superintendent said that during a high gold price period, police will increase patrol frequency and carry out regular Stop Walk Talk visits with gold shops. They will use more technology in daily work and keep close ties with the association, so tips and updates move quickly.
The goal is simple: public safety and peace of mind.
He also warned would-be offenders to drop their plans. Investigators are highly skilled, and police now use modern tools across operations. With thousands of functioning CCTV cameras citywide, anyone who commits a crime will be tracked and arrested.
The Dramatic Rise of Gold
Gold prices in Thailand have jumped about 40% in local terms over the past year. The rush reflects a wider global rally, with spot gold breaking above $4,000 per ounce for the first time.
Tensions abroad, uncertainty in US politics, and sticky inflation have all pushed buyers towards safe assets. J.P. Morgan expects central banks to add around 900 tonnes to their reserves this year.
Extra demand from ETFs and Chinese investors has added fuel to the move. In Thailand, where gold sits at the heart of daily life, stitched into wedding bands, Buddha amulets, and family heirlooms, the surge has stirred the wider economy.
Exports tell the story. Thai gold shipments rose nearly 70% in the first seven months of 2025, reaching more than 254 billion baht. Cambodia alone absorbed 71 billion baht of that total.
The flow of sales has helped lift the baht to a five-year peak against the dollar. The currency has tracked the metal with a correlation of 0.88, so when gold climbs, the baht tends to follow.
For a country where exports make up about 60% of GDP, this lift is a welcome boost. Retail investors, shaken by choppy equities and Bitcoin whiplash, have turned to gold in droves. Shops have become crowded arenas of bargaining and quick decisions.
A Thai gold specialist calls it an everything rally, with stocks, crypto, and bullion rising together, a setup that can feed bubble fears. The mood is upbeat, yet the risks are plain to see. A pullback of about 5,000 baht is on the radar, echoing past drops.
Cultural attachment adds another layer. Families hold gold for savings and status, then pass it down through generations. This habit softens the urge to sell into strength and can tighten supply during rallies. When buyers pour in, even small shifts in flows from funds and central banks can set prices racing.
People Cueing at Gold Shops
Currency dynamics matter as well. A stronger baht can cap local prices, while export momentum can support the currency again, a feedback loop that traders watch closely. Importers of raw gold face cost pressures when global prices jump, yet jewellers benefit from bustling footfall and higher ticket sizes. Are you seeing longer queues at your local shop?
The shine has a darker side. On 5 October, a brazen robbery in Thailand’s deep South underlined the risks that come with high-value, easy-to-carry goods. In the border town of Su-ngai Kolok in Narathiwat province, eight masked men stormed a gold shop inside the Big C mall at about 6:30 p.m.
Armed with rifles, they forced staff and customers to the floor, shot an army sergeant who was shopping at the time, and cleared the display cases. The gang escaped with between 400 and 600 baht worth of jewellery, worth an estimated 24 to 36 million baht.
Investigators quickly linked the attack to the Barisan Revolusi Nasional, or BRN, the most active insurgent group in the deep South. The region’s conflict, driven by ethnic Malay Muslim grievances, has simmered since 2004 and has claimed more than 7,000 lives.
Robbing gold shops fits a pattern seen in past incidents, including a 2019 raid in Songkhla that yielded about 85 million baht. Rising prices raise the payoff for thieves, while security in large shopping centres can be patchy.
The wounded soldier, 27-year-old Burit Radachai, survived, a stark sign of the human cost that lingers beyond the headlines.
Policy makers face a delicate balance. Strong exports and a firm currency support growth, yet rapid gains can unsettle markets and households. If central banks keep buying and ETF inflows stay positive, prices may hold their ground.
If risk assets wobble, haven demand could climb again. For Thai investors, the basics still apply: spread risk, keep an eye on local premiums, and remember that gold can fall as fast as it rises.
The next few months will test the market’s strength. Watch export orders, ETF flows, central bank purchases, and shifts in US rates. If the baht stays strong and jewellery demand remains brisk, Thailand’s gold story has room to run, though corrections are part of the path. How are you positioning for both the shine and the shocks?
