Gold price drops on tension between US and China
The price of gold dropped by Bt150 per baht weight in morning trade today (May 5), the Gold Traders Association reported.
As of 9.25am, the buying price of a gold bar was Bt25,800 per baht weight and selling price Bt26,000, while gold ornaments cost Bt25,332.36 and Bt26,500, respectively.
At close on Monday (May 4), the buying price of a gold bar was Bt25,950 per baht weight and selling price Bt26,150, while gold ornaments were priced at Bt25,483.96 and Bt26,650, respectively.
The Gold Spot Index price this morning moved to around US$1,699 (Bt55,019) per ounce after the price rose by $12.4 to $1,713.30 per ounce at close on Monday.
Investors were buying gold as a safe-haven asset due to uncertainty following tension between the US and China.
Meanwhile, the Hong Kong gold price dropped by HK$40 to $15,710 (Bt65,594) per tael.
