What about gold in Thailand

[CallumWK]

For 2 months already I'm monitoring the gold price, since I want to buy gold as an alternative to have all my eggs in the same basket (read savings accounts).

Since the US election, the price of gold in USD has declined steadily, but at the same time the value of the baht against the USD has also declined, which nullifies the decline of the gold price in Thai baht. Seemingly, the BoT currently has a policy to weaken the baht against the USD

Some day the price of gold in Thai baht actually increases, while in the US it decreases at the same time, for that reason.

Inflation is still real, so the gold price in the US may again increase in the foreseeable future, but the baht most likely will also strengthen again, which then will nullify the gold price increase.

So what you think.

Please note, I'm not asking what the gold price will do in USD, but in Thai baht.

For example, this evening the price of gold has declined by 1.28% in the US, but in Thailand the price decline is hardly noticeable, because the baht has weakened at the same time.

I look at the Hua Seng Heng price index which get update 24 hours a day.

 

https://checkprice-huasengheng-com.translate.goog/?_x_tr_sl=th&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc