Gold price rises amid rising US unemployment welfare claims
The price of gold rose by Bt150 per baht weight in morning trade on Friday (May 15), the Gold Traders Association reported.
As of 9.24am, buying price of a gold bar was Bt26,050 per baht weight and selling price Bt26,250, while gold ornaments were priced at Bt25,574.92 and Bt26,750, respectively.
At close on Thursday (May 14), buying price of a gold bar was Bt25,900 per baht weight and selling price Bt26,100, while gold ornaments were priced at Bt25,438.48 and Bt26,600, respectively.
The Gold Spot Index price on Friday morning moved to around US$1,733 (Bt55,610) per ounce after the price rose by $24.5 to $1,740.9 per ounce at close on Thursday.
Investors were buying gold as a safe-haven asset after the US revealed that the number of unemployment welfare registrants rose to over 2.9 million people due to the Covid-19 outbreak.
Meanwhile, the Hong Kong gold price rose by HK$120 to $15,980 (Bt66,153) per tael.
