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Gold price shoots up as pandemic takes toll

Apr 03. 2020
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By The Nation

The gold price rose by Bt200 per baht weight in morning trade on Friday (April 3), the Gold Traders Association reported.

As of 9.26am, the buying price of gold bar was Bt24,850 per baht weight and selling price Bt25,050, while buying price of gold ornaments was Bt24,407.60 and the selling price Bt25,550.

At the close on Thursday (April 2), gold bar was being bought at Bt24,650 and sold at Bt24,850, while gold ornaments stood at Bt24,210.52 and Bt25,350.

Gold contracts in COMEX trading to be delivered in April rose by US$46.30, closing at $1,637.70 per ounce yesterday as investors turned to low-risk assets after the US recorded historic unemployment levels amid the Covid-19 pandemic.

The US Department of Labour revealed that the number of Americans requesting unemployment welfare rose to 6.6 million people, more than double analysts’ predictions.

The number of unemployment welfare applicants grew from 3.3 million people after a spate of business closures due to the lockdown to contain the spread of Covid-19.

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