PATTAYA, Thailand – Gold prices could rise by as much as 40% this year to around $6,030 per ounce, potentially pushing Thai gold prices close to 90,000 baht, according to Jitti Tangsithpakdee, President of the Gold Traders Association of Thailand. Jitti said global gold prices continue to benefit from escalating trade tensions and geopolitical conflicts, noting that prices have already climbed by roughly $1,000 per ounce since the beginning of the year. Historically, gold prices have risen by an average of 8–9% per year, but in 2025 prices surged by as much as 65%. Jitti acknowledged that current price movements appear abnormal, driven by unusually rapid and sharp fluctuations. He cautioned short-term speculators to be alert to the risk of a sharp price correction, while maintaining that long-term investment prospects remain positive as long as geopolitical uncertainty persists.