Gold stable amid reports of Covid-19 hitting company revenues hard
Gold prices remained unchanged in morning trade on Wednesday (April 15), the Gold Traders Association reported.
As of 9.32am, buying price of a gold bar was Bt25,900 per baht weight and selling price Bt26,100, while buying price of gold ornaments was Bt25,438.48 per baht weight and selling price Bt26,600.
Gold prices on the Gold Spot Index this morning moved around US$1,720 (Bt56,075) per ounce after the price increased by $7.5 to $1,768.9 per ounce at Tuesday’s close (April 14), while gold contracts in COMEX to be delivered in June rose by $7.50, closing at $1,768.90 per ounce.
Investors are buying gold as a safe haven asset amid signals that the Covid-19 outbreak had caused an impact on the global economy and the performance of listed companies. In addition, the weakening dollar is another factor that supports the gold market.
Meanwhile, the price in the Hong Kong gold market rose by HK$60 to $15,980 (Bt67,195) per tael.
