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Spot gold has smashed through $4,000 an ounce for the first time, as concerns over the US economy and a government shutdown added fresh momentum to a scorching rally.

It is a milestone for bullion, which traded below $2,000 just two years ago, with returns that now outstrip those for equities so far in this century. Gold has jumped more than 50% this year in the face of uncertainties over global trade, the US Federal Reserve’s independence and US fiscal stability.

Thai gold prices were adjusted 33 times on Wednesday, with the Thai Gold Traders Association quoting a selling price of 62,350 baht per baht-weight (15.2 grammes) as of 6pm, an increase of 1,400 baht from the day before.

Heightened geopolitical tensions have boosted demand for safe-haven assets this year, while central banks have continued to buy gold at an elevated pace.

The rally has taken on extra urgency as investors seek protection from potential market shocks following the government funding impasse in Washington

The start of the Fed’s monetary easing cycle has also been a boon for gold, which does not pay interest. Investors have responded by piling into exchange-traded funds, with bullion-backed ETFs seeing their biggest monthly inflow in more than three years in September.

‘Gold breaking $4,000 isn’t just about fear – it’s about reallocation,’ said Charu Chanana, a strategist at Saxo Capital Markets. ‘With economic data on pause and rate cuts on the horizon, real yields are easing, while AI-heavy equities look stretched. Central banks built the base for this rally, but retail and ETFs are now driving the next leg.’

Bullion climbed as much as 0.7% to $4,010.84 an ounce on Wednesday and was trading at $4,009.75 as of 10.56am in Singapore.

Jumps in the price of gold typically track broader economic and political stresses. The metal breached $1,000 an ounce in the aftermath of the global financial crisis, $2,000 during the Covid pandemic, and $3,000 as the Trump administration’s tariff plans washed over global markets in March.

The precious metal has now broken past $4,000 against the backdrop of, among other things, President Donald Trump’s assault on the Fed, including threats against chairman Jerome Powell and a push to oust Governor Lisa Cook, the clearest test so far of the US central bank’s autonomy.

A pliant Fed that would lower rates and spur higher inflation could set up a Goldilocks situation for gold. Bullion is seen as an inflation hedge and is usually weighed down by high borrowing costs, which make cash or bonds more appealing.

‘We expect gold to reach a cyclical peak when there is greatest market concern about the outlook for Fed independence,’ Macquarie Bank analysts wrote in a Sept 30 note.

‘In the event, however, that a compromised Fed were to make clear policy errors, gold’s performance should of course be even stronger.’

Gold is on pace for its best annual performance since the 1970s, a decade when rapid inflation and the end of the gold standard sparked a 15-fold rally of the precious metal.

At that time, then-President Richard Nixon pressured the Fed to lower rates. The central bank under then-chair Arthur Burns made only ‘limited efforts’ to maintain independence and ultimately enabled volatile inflation for ‘political reasons,’ according to a recent court submission from various monetary policy luminaries.

‘The reason that investors are buying gold – and should be buying gold – is because of its diversification qualities,’ said Stephen Miller, an investment strategy adviser at GSFM.

‘That sentiment is in its early stages, and gold will get increasing acceptance as part and parcel of prudent investing behaviour,’ he said, adding he could see prices reaching $4,500 by the middle of next year.

Billionaire Ray Dalio said on Tuesday that gold is ‘certainly’ more of a safe haven than the dollar and the record-setting rally echoes the 1970s. The remarks from the founder of hedge-fund firm Bridgewater Associates came after Citadel founder Ken Griffin said that bullion’s rise reflected anxiety about the US currency.

‘The metal’s climb to the $4,000 milestone reflects not only surging safe-haven demand, but also a deepening distrust in paper assets as fiscal risks and geopolitical tensions intensify,’ said Hebe Chen, an analyst at Vantage Markets in Melbourne. ‘In the short term, a consolidation phase looks likely after such a relentless advance.’

Central banks have been a key driver of bullion’s rally, flipping from net sellers to net buyers following the global financial crisis. The pace of buying doubled after the US and its allies froze Russia’s foreign-exchange reserves in 2022 following the full-scale invasion of Ukraine. That pushed many central banks to consider diversifying, while inflation and speculation that the American government would treat foreign creditors less favourably further highlighted bullion’s appeal to policymakers.

Elevated central bank buying is a ‘structural shift in reserve management behaviour, and we do not expect a near-term reversal,’ Lina Thomas, a commodities strategist at Goldman Sachs, wrote in a September note. ‘Our base case assumes that the current trend in official sector accumulation continues for another three years,’ Thomas said.

Goldman raised its gold forecast for December 2026 to $4,900 an ounce this week, up from $4,300.

Phuket International Airport reopened its main runway on Wednesday afternoon, three hours after a Royal Thai Navy aircraft experienced a landing gear malfunction and blocked the runway.

The belly landing by the Cessna T-337 Skymaster, which the Navy said was on a routine patrol, occurred at 11.18am. There were no injuries.

The incident prompted an immediate emergency response to facilitate the safe removal of the aircraft and to thoroughly inspect the surface. Airport officials initially said the runway would be closed until 3pm.

The recovery operation was carried out by Navy pilots, aircraft technicians and Phuket airport officials. The airport provided technical equipment, drained the aircraft’s fuel and arranged for lifting equipment to remove the plane.

The aircraft was successfully moved off the runway at 1.49pm. After clearing foreign objects and oil stains, the runway was reopened at 2.30 pm.

The closure affected a total of 70 flights, airport officials said in a statement.

Passengers who were scheduled to travel during the affected period were advised to check flight status and updates directly with their respective airlines.

Phuket International Airport extended its apologies for the inconvenience and expressed gratitude to passengers for their understanding and cooperation.

Deputy Prime Minister Phiphat Ratchakitprakarn has admitted that the restoration of the road surface in front of Vajira Hospital will not be completed by Wednesday or Thursday as planned, due to the need to demolish the subsiding Samsen Police Station building.

Mr Phiphat, who also serves as transport minister, said on Tuesday during a site inspection on Samsen Road, where severe road subsidence occurred on Sept 24, that engineers had found further sinking and cracks in the police station’s structure.

The safety inspection team recommended immediate demolition, a decision approved by Prime Minister Anutin Charnvirakul to prevent further risks.

The demolition, however, has delayed road restoration.

The Ministry of Transport and the Bangkok Metropolitan Administration (BMA) have apologised for the inconvenience and will soon announce a revised completion timeline. The Mass Rapid Transit Authority (MRTA) and the construction contractor have adapted their operations to work safely within the limited space.

Demolition of the police station has already started on the left side of the building, near the Vajira Hospital intersection, using long-arm cranes and robotic equipment to carefully dismantle the upper structure and reduce vibrations that could affect the hospital, Mr Phiphat said.

The right side of the station will remain temporarily intact while engineers inject chemicals underground to stabilise the soil before refilling the pit with sand and paving the surface with asphalt. Rebuilding the police station will be the contractor’s responsibility.

The Ministry of Transport has also established a fact-finding committee to determine the cause of the incident. If the contractor is found responsible, it must cover all related costs under the contract terms.

Meanwhile, senior prosecutor Thanakrit Vorathanatchakul on Tuesday commented on a Facebook post stating that if the MRTA is to pay for the damage, it must ensure taxpayer money is used appropriately.

He stressed that if the fault lies with the contractor, they must indemnify the MRTA and rely on their construction insurance to compensate for losses.

As of Tuesday, most of the station’s roof and steel structures had been dismantled to reduce building weight.

Thailand’s Weeraphon Wichuma stunned the weightlifting world by claiming gold in the men’s 71kg category at the IWF World Championships in Forde, Norway, on a day that saw an extraordinary 16 world records shattered.

The men’s 71kg final delivered one of the most thrilling sessions in recent memory, with the top four lifters all breaking world records. Wichuma’s final lift of 194kg secured a total of 346kg, edging out Japan’s Masanori Miyamoto by a single kilogram and sealing Thailand’s sensational victory.

The session’s intensity peaked as four lifters vied for the podium in the final lifts. Miyamoto briefly took the lead with 193kg, only to be overtaken by Wichuma’s 194kg. Turkey’s Yusuf Fehmi Genc gambled on 192kg, which gave him a fleeting second place before he was pushed down to fourth.

Ri Won Ju of North Korea nearly stole the show despite injuring his knee. He returned to lift 195kg but lost balance at the top, turning a potential gold into fifth place. His courage drew admiration from the crowd.

In the women’s 63kg, North Korea’s Ri Suk dominated with four world records, finishing 17kg ahead of Canada’s Olympic medallist Maude Charron. Ri’s total of 253kg included new marks in snatch, clean and jerk, and total, though she still trails the historic 262kg set by China’s Deng Wei in 2016.

Charron, 32, broke her own mental barrier by lifting 133kg in clean and jerk, her best ever. ‘It must be the Norwegian air,’ the Canadian joked, praising the host city where she had previously trained and competed.

Colombia’s Yenny Sinisterra and the Philippines’ Elreen Ando both finished with 231kg, but Sinisterra took bronze by virtue of lifting it first. Americans Sophia Shaft and Katie Estep followed closely in fifth and sixth.

The championships continue with North Korean aiming for a clean sweep in the women’s categories, as Song Kuk Hyang is favoured to win the 69kg event earlier this week.

The death toll from floods in Thailand has risen to 22, authorities said on Tuesday, as they rushed to deliver relief to an estimated 370,000 people affected by heavy rainfall and overflowing rivers.

More than 369,000 people in 19 provinces, excluding Bangkok, were affected, the Disaster Prevention and Mitigation Department reported, with Uttaradit and Ayutthaya among the worst-hit areas.

Authorities said emergency teams were distributing food and supplies and closely monitoring water levels as the monsoon season brings widespread rainfall.

Of the 19 provinces, six were in the North, namely Uttaradit, Phitsanulok, Phetchabun, Sukhothai, Phichit and Nakhon Sawan.

In the Central Plains, eight provinces saw flooding: Uthai Thani, Chai Nat, Sing Buri, Ang Thong, Suphan Buri, Ayutthaya, Pathum Thani and Nakhon Pathom.

Four northeastern provinces – Chaiyaphum, Ubon Ratchathani, Udon Thani and Yasothon – also experienced flooding.

The only eastern province affected was Chachoengsao.

Bangkok governor Chadchart Sittipunt said on Tuesday that the city would not face severe flooding like in 2011, because of the current water flow of the Chao Phraya River.

Up to three more storm systems were expected to hit the region before the end of 2025.

There was a time when travellers chased only sunsets and souvenirs. Today, travel behaviour is evolving, with pop culture emerging as a powerful force behind tourism trends.

According to the digital travel platform Agoda, live music events and festivals are contributing to a rise in both international and domestic travel interest in Thailand.

Major international events are proving to be strong travel motivators and the upcoming Blackpink concerts, scheduled to take place in Bangkok from Oct 24-26, have already sparked an increase in global travel interest.

Accommodation searches for Bangkok from international travellers for one day before the Blackpink concerts were 18% higher than searches for rooms two weeks prior to the event. Countries showing the highest rise in interest include Vietnam (266%), Malaysia (107%) and Taiwan (19%).

The heightened demand may be partly attributed to Blackpink not performing in Malaysia or Vietnam during their 2025 tour, as well as the group’s strong and dedicated fanbase in Taiwan, making Thailand a key destination for regional fans eager to attend.

This cross-border enthusiasm underscores the global reach of Blackpink’s fandom and highlights the rising influence of major international events as travel drivers. Within Thailand, demand is equally strong. The concert led to a 130% increase in domestic searches for accommodation in Bangkok on Agoda, fuelled in part by the popularity of Thai-born member Lisa, whose international fanbase continues to energise local interest in global entertainment.

And the show doesn’t stop there. Rolling Loud Thailand, the hip-hop festival set to return to Legend Siam in Pattaya from Nov 14-16, is also proving to be a strong travel magnet. The event is globally recognised as one of the biggest names in rap and hip-hop culture.

Despite uncertainty surrounding this year’s headliner announcements, Agoda data shows that accommodation searches for stays around the event dates have increased by 36% from domestic and international travellers alike, with the most interest coming from South Korea, Japan and Taiwan.

Thailand’s local festival scene also continues to attract global travellers. Wonderfruit Festival, scheduled to take place in Pattaya from Dec 11-15, has seen a 10% increase in international searches for accommodation in Pattaya and the Chon Buri area, led by interest from South Korea, the Philippines and Singapore.

Wonderfruit is a multi-sensory experience that blends art, nature, wellness and sustainability in a vibrant open-air setting. Held in the fields of Pattaya, the event features everything from sunrise soundscapes and farm-to-table dining to architectural pavilions and cultural workshops.

“As Thailand continues to host world-class events and festivals, event tourism is proving to be a dynamic force in strengthening the country’s position as a global travel destination,” said Akaporn Rodkong, Agoda’s country director for Thailand.

“Agoda remains committed to supporting travellers in discovering these experiences while making travel more accessible and affordable.”

Nakhon Phanom has lit up the Mekong River with a spectacular debut of the Illuminated Boat Festival drawing over 100,000 visitors and marking a new chapter in the province’s cultural and economic development.

Held along the riverbank in the heart of the municipality from Sept 27- Oct 8, the festival featured 12 illuminated boats representing each district.

This year’s entries were the largest and most elaborate to date, with some up to 80 metres long and 25 metres high. Each boat was adorned with more than 25,000 lanterns made from recycled coffee cans, creating a mesmerising display of light and craftsmanship.

Visitors were treated to a 3-kilometre river parade, accompanied by fireworks and music. The illuminated boats showcased themes honouring the monarchy, religion and national landmarks, while also highlighting key tourist destinations in the northeastern province. The vibrant atmosphere captivated both locals and international tourists, with hotels, restaurants and shops fully booked.

The festival’s success has sparked optimism for future editions, with officials expecting even greater participation and international interest next year. The World Illuminated Boat Festival is now seen as a turning point in Nakhon Phanom’s journey toward becoming a key player in regional development.

Local authorities and tourism operators are already planning enhancements for next year’s event, including expanded viewing areas, interactive cultural exhibits and increased international promotion. The festival is poised to become a signature event on Thailand’s cultural calendar.

The event was made possible following a cabinet meeting in April 2025, which approved nearly 30 million baht in funding to elevate the traditional Lai Ruea Fai festival into a global attraction. The initiative aims to transform Nakhon Phanom from a secondary city into a leading hub for tourism, trade and cultural heritage.

In response to Cambodia’s failure to submit a plan for repatriating its citizens living in three disputed areas, including Nong Chan, in Sa Kaeo province, the Thai army has indicated it will boycott the forthcoming Regional Border Committee (RBC) meeting with Cambodia, scheduled to take place in Poi Pet on Friday and Saturday.

Thailand had required that its neighbour submit its plan by yesterday, ahead of Friday’s evacuation deadline, as set by the Sa Kaeo governor following a series of confrontations between Cambodian protesters and Thai crowd control personnel last month.

The latter resorted to tear gas and rubber bullets as the protest turned rowdy, with accusations made that Phnom Penh was using “human shield” tactics.

It’s understood that the Cambodian villagers are originally those who fled the civil war in the 1970s and took shelter at Nong Chan, which was designated as Camp 511.

When the war was over three decades later, these Cambodians did not return to their homeland, while their families had largely extended. It’s reported that about 200 Cambodian families are living on an area spanning over 190 rai of land.

The Nong Chan problem had lingered on for decades until August, when it suddenly escalated into a conflict hotspot, following the violent clashes between the two armies in Surin and other areas in southern Isan provinces. The area drew the attention of some ultra-nationalist Thais who demanded tough action against the long-standing land occupation, threatening local authorities that they would face Section 157, which penalises state officials for dereliction of duty.

Then there is the issue of geography. It should be noted that all information and infographics on the Nong Chan issue are provided by the Thai army, which insists that the hotspot, as well as portions of land in Nong Ya Kaeo and Ta Phraya districts, are located on Thai soil. However, some scholars say there are some overlapping claim areas that need to be verified.

Only yesterday, Maj Gen Winthai Suvaree, the Royal Thai Army’s spokesperson, acknowledged on the army’s official webpage that a small land plot on Cambodian soil could be occupied by Thais for farming.

The question is: Why not thoroughly verify such claims or doubts before taking harsh action? Boycotting the meeting may not be in Thailand’s best interests. The Thai authorities must maintain open lines of communication, join the RBC, and continue to press for their demands. Any differences should be settled at the negotiating table.

At least, when Defence Minister Natthaphon Narkphanich attended the General Border Committee meeting in Koh Kong last month, he expressed his confidence that the Nong Chan issue could be managed in the mutual interest of both parties. This is only possible if both sides are willing to move forward.

Expelling people who have lived in specific areas for generations could prove too difficult. Academic experts have suggested that other practical options should be explored, such as land swaps, following a successful model practised by Thailand and Malaysia decades ago.

It’s time for Prime Minister Anutin Charnvirakul to exercise his leadership and stop making short-term gains through ultranationalist measures. Such acts are driven by a hope for popularity, which pushes the country nowhere. He must provide proper guidelines to local authorities, ensuring that they keep all bilateral mechanisms in place.

The Aspen Tree The Forestias, a holistic healthcare community for older adults, has partnered with Baycrest Global Solutions, Canada, to deliver international-standard senior living, health, and brain care.

With over 105 years of expertise, Baycrest is a global leader in aging, brain health, and preventive research. The organisation holds the highest accreditation from Accreditation Canada and serves as a centre of excellence through its Centre for Aging + Brain Health Innovation (CABHI), Baycrest Academy for Research and Education (BARE), and collaborations with the University of Toronto.

Under this collaboration, Baycrest manages and advises operations at The Aspen Tree’s Health and Brain Center (HBC), ensuring medical services, safety protocols, and wellness programs meet international healthcare standards. Baycrest’s team works closely with The Aspen Tree’s medical professionals to design and implement evidence-based care models tailored for Thailand’s aging population.

The Health and Brain Center provides a full spectrum of services, including Geriatric Medicine, Rehabilitation, Memory and Brain Clinics, Preventive Health Programs, and Long-Term Care. Its programs integrate clinical care with neuroscience research and innovations to promote physical and cognitive well-being for those aged 50 and above.

Baycrest also introduces Cogniciti, a digital brain health assessment tool that helps identify early signs of cognitive decline. Through ongoing professional training, system development, and knowledge transfer, Baycrest empowers Thai healthcare teams to deliver safe, effective, and sustainable eldercare aligned with international best practices.

This collaboration establishes The Aspen Tree The Forestias as a leading model of holistic senior living in Thailand-combining cutting-edge brain science, compassionate care, and a wellness-focused environment designed for lifelong independence and happiness. For more information, visit https://mqdc.com/aspentree

Thonburi Wellbeing Co, the residential development arm of SET-listed Thonburi Healthcare Group (THG), has relaunched the Jin Wellbeing County project with a new wellness-oriented branding and plans to develop the next phase with a new investor.

Peerapong Peerachotiwatra, chief executive of Thonburi Wellbeing, said the project launched in 2018 was initially positioned as a senior living community.

However, the concept created a misconception among potential buyers, as many in the target demographic did not identify themselves as elderly.

“Our project came a little ahead of its time,” he said. “We are rebranding it to align with the global megatrend of wellness, which is not limited to the elderly and is relevant to people of all ages.”

Completed in 2020 with a total investment of 3 billion baht, the project’s first phase comprises five seven-storey condo towers with 494 units in two configurations — one-bedroom units of 43 square metres and one-bedroom-plus units of 63 sq m.

The project utilises universal design, featuring wider entrances and walkways, ramps, and extra-large elevators that can accommodate a hospital bed.

Each unit also incorporates safety-focused components, including balcony railings and handrails in the bathroom.

All units are equipped with an emergency call system located by the bed and in the bathroom.

In the event of a resident having an accident or the symptoms of an illness, the system alerts the medical team at Thonburi Burana Hospital, located within the project, which can respond and reach the unit within four minutes on a 24-hour standby basis.

Operated by THG, the hospital, which has 55 beds, provides convalescent and geriatric care, holistic preventive services, advanced treatment, and rehabilitation for both its patients and the elderly.

Phase one occupies 20 rai of the 142-rai site on Phahon Yothin Road in Rangsit in Pathum Thani’s Khlong Luang district.

The remaining 122 rai will be used for future phases. Phase two, planned on 20 rai, will feature eight wellness condo towers targeting younger buyers, with the company seeking partners for joint development.

Some 20 rai near the main road is earmarked for Thonburi Rangsit Hospital, a specialty facility, though development plans have been slightly delayed. The remainder is reserved for wellbeing single-detached houses.

Roughly 60% of phase-one units have been sold, with half already occupied, mainly by active seniors over 60 living alone.

Fewer than 3% are passive seniors, while other units are held by investors renting to local white-collar workers, Chinese entrepreneurs, and American retirees.

The remaining buyers include overseas clients awaiting retirement.

“We completed construction of phase one just as the pandemic hit,” Mr Peerapong said. “We implemented a bubble-and-seal system and froze marketing activities. Now, we are resuming sales.”

The project offers discounts of 1 million baht for smaller units priced at 5 million baht, and 2 million baht for larger units priced at 7 million baht, with the aim of selling at least 20 units in the final quarter of this year.

In August and September 2025, THG informed the Stock Exchange of Thailand it had completed a capital increase totalling around 6.2 billion baht through a private placement with Ramkhamhaeng Hospital Plc and a rights offering to existing shareholders.

“Although Ramkhamhaeng Hospital was already THG’s largest shareholder, holding 24.59% last year, it decided to inject 5 billion baht, raising its stake to 49.99% to strengthen confidence in the THG brand,” Mr Peerapong said.

The move follows the indictment of THG founder Boon Vanasin earlier this year.

Mr Peerapong said Boon and his family now hold less than 10% of the company, with no board seats, staff positions, or voting rights in THG.