Gold price falls amid uncertainty caused by Covid-19 and strengthening dollar

Buying price of a gold bar was Bt22,700 per baht weight and selling price Bt22,800, while buying price of gold ornaments was Bt22,285.20 per baht weight and selling price Bt23,300.
The prices dropped from Wednesday’s close (March 18) when buying price of a gold bar was Bt23,100 and selling price Bt23,200, while buying price of gold ornaments was Bt22,679.36 and selling price Bt23,700.
Gold contracts in COMEX futures to be delivered in April dropped by US$47.90 to $1,477.90 per ounce on Wednesday’s close as investors sold gold to hold cash amid uncertainty following impacts from the Covid-19 outbreak.
Also, gold price was under pressure from the strengthening dollar, making the gold contract price more expensive for investors who hold other currencies.
US President Donald Trump said that he would hold a press conference on Thursday about “the most important issue” from the US Food and Drug Administration relating to Covid-19.
The latest information from Johns Hopkins University stated that currently, the number of Covid-19 infected people worldwide was 201,436, while the death toll was 8,007.
In the US, 6,496 people have been infected and 114 people have died.