Thailand’s million-dollar gold heist shines light on tensions in troubled south

A million-dollar gold heist in Thailand’s far south by armed robbers who blocked roads with spikes and set explosives to seal their escape across the Malaysian border has rattled the Thai security establishment, as efforts to reignite peace talks in an area roiled by insurgency continue to fall flat.

Around 20 men working in three teams carried out the October 5 theft from a gold shop in Sungai Kolok, bordering Malaysia’s Kelantan State.

The theft of hundreds of gold ornaments and jewellery valued at over 36.5 million baht (US$1.13 million) came as prices for the precious metal spiked to historic highs of over US$4,200 per 28 grams (one ounce) earlier this month.

Using two stolen getaway trucks, the robbers planted road spikes and explosives to obstruct police pursuit in a heist so well oiled that Thai authorities immediately attributed it to the Barisan Revolusi Nasional Melayu Patani (BRN).

Two days after the hold-up, Defence Minister Nattaphon Narkphanit said the alleged BRN operatives had already smuggled the gold out of Thailand and that efforts to recover it would require “cross-border cooperation”, without naming Malaysia specifically.