The Gold Traders Association (GTA) publishes daily reference prices for Thai 96.5% gold, with separate buy and sell quotes for bars and ornaments. The first quote usually appears around 9:20 to 9:40 a.m. Thailand time, and the GTA can revise its board multiple times as international gold prices move. The reference is based on global spot gold, the USD/THB exchange rate, overseas dealer premiums or discounts, and local supply and demand, and ornament prices may include shop-set making charges. Selling jewelry back to the same shop allows a deduction capped at 5% of that day's gold-bar buyback price.
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