Gold falls after rollercoaster day
The price of gold dropped by Bt350 per baht weight at close of trading on Tuesday (April 7), the Gold Traders Association reported.
At 3.50pm, the buying price of a gold bar stood at Bt25,100 per baht weight and selling price at Bt25,300, while buying price of gold ornaments was Bt24,650.16 and the selling price Bt25,800.
The price fell from morning trade, when a gold bar cost Bt25,450 to buy and Bt25,650 to sell, while gold ornaments cost Bt24,998.84 and Bt26,150 to sell.
As of 5pm, Gold contracts in COMEX to be delivered in June rose by US$7.20 or 0.43 per cent, to $1,701.10 per ounce as investors remained worried about the Covid-19 situation.
Meanwhile, the stock market rebounded from Friday’s close, with investors feeling relief over news that the rise in numbers of Covid-19 patients and deaths in the US and Europe had slowed.
However, US President Donald Trump warned Americans to prepare for a “hell of a bad two weeks” in terms of the death toll. The US currently has the highest number of Covid-19 patients, with 337,646 people infected and 9,648 killed. Statistics show 17,582 have recovered.
