Core Viewpoint - Thai gold traders oppose the government's discussion on taxing physical gold and online transactions, arguing that such measures to curb the appreciation of the Thai baht could jeopardize the country's status as a gold trading hub [1] Group 1: Government Actions and Economic Impact - The central bank and the Ministry of Finance held a meeting with over ten gold traders to discuss alleviating the pressure that gold trading puts on the Thai baht [1] - Gold exports have contributed to the recent appreciation of the Thai baht, which reached its highest exchange rate against the US dollar in four years, with an increase of over 7% this year [1] - Authorities are urging members of the Greater Bangkok Area (GTA) to closely monitor gold transactions in Thai baht to control currency risks and illegal activities [1] Group 2: Gold Export Data - Data shows that Thailand's gold export value increased by 69% year-on-year in the first seven months of 2025, reaching 254 billion Thai baht (approximately 8 billion USD) [1] - There has been an unusual increase in gold exports to Cambodia, prompting calls for an investigation [1] Group 3: Taxation Considerations - A finance ministry source indicated that the department is considering taxing physical gold transactions to curb the appreciation of the Thai baht [1] - However, the source acknowledged that such taxation may not significantly weaken the baht's exchange rate, as the primary pressure on the baht comes from the depreciation of the US dollar [1]