Gold price glitters – hits another new high in 8 years
The price of gold rose sharply – by Bt550 per baht weight – in morning trade today (April 14), marking another new high in eight years since February 2012, the Gold Traders Association reported.
As of 9.32am, the buying price of a gold bar was Bt26,050 per baht weight and selling price Bt26,250, while gold ornaments were Bt25,574.92 and Bt26,750, respectively.
The prices increased from Monday’s close, when a gold bar cost Bt25,500 to buy and Bt25,700 to sell, while gold ornaments cost Bt25,044.32 and Bt26,200, respectively.
The Gold Spot Index price moved around US$1,724 (Bt56,412) per ounce after the price increased by $8.6 to $1,761.4 at Monday’s close.
Investors turned to buy gold as a safe haven asset after the US stock market fell due to uncertainty that the Covid-19 pandemic would impact listed companies’ incomes.
Meanwhile, the Hong Kong gold price rose sharply, by HK$540 to $15,870 (Bt66,890) per tael.
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