Renewed demand amid Covid-19 crisis pushes up gold price
Comex futures gold contracts increased by US$4.40 to $1,672.40 per ounce at Friday’s close as investors turned to safe-haven assets following the worldwide spread of the new coronavirus (Covid-19).
Throughout the week, Comex futures gold contracts rose by $105.70, making the highest weekly record since 2011.
The Gold Traders Association reported on Friday that gold bar closed at a buying price of Bt24,900 per baht weight and selling price of Bt25,000, while gold ornaments' buying price was Bt24,453.08 and selling price Bt25,500.
According to the US Johns Hopkins University, there are more than 100,000 cases of Covid-19 patients worldwide, while the number of patients had increased outside China.
At 8pm US time on Friday (8am Thailand time Saturday), the number of patients worldwide had reached 100,055. China has the most number of patients, followed by South Korea, Iran and Italy, while the death toll was 3,398.
Meanwhile, the World Health Organisation increased the death rate from Covid-19 to 3.4 per cent from the previous 2 per cent.
