Gold gains on the back of upward movement in oil price
The price of gold rose by Bt100 per baht weight in morning trade on Thursday (April 23), the Gold Traders Association reported.
The 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.
At close on Wednesday (April 22), the buying price of a gold bar was Bt25,800 per baht weight and selling price Bt26,000, while gold ornaments were priced at Bt25,332.36 and Bt26,500 per baht weight, respectively.
The Gold Spot Index price on Thursday morning moved to around US$1,710 (Bt55,338) per ounce after the price rose by $50.5 to $1,738 per ounce at close on Wednesday.
The gold price gained positive sentiment from rising oil price, while uncertainty following the global economy due to Covid-19 impact caused investors to buy gold as a safe haven asset.
Meanwhile, the price in the Hong Kong gold market rose by HK$140 to $15,810 (Bt66,016) per tael.
