Gold price rises amid conflict between US and China
The price of gold rose in morning trade today (June 1), the Gold Traders Association reported.
As of 9.35am, the buying price of a gold bar was Bt26,000 per baht weight and selling price Bt26,100, while gold ornaments were priced at Bt25,529.44 and Bt26,600, respectively.
At close on Saturday, the buying price of a gold bar was Bt25,850 per baht weight and selling price Bt26,050, while gold ornaments were priced at Bt25,337.84 and Bt26,550, respectively.
The Gold Spot Index price this morning moved to around US$1,738 (Bt55,203) per ounce after the price rose by $23.4 to $1,751.7 per ounce at close on Friday.
Investors were buying gold as a safe haven asset due to uncertainty following the conflict between the US and China on Beijing’s new national security law in Hong Kong, as it could impact the global economy.
The Hong Kong gold price rose by HK$115 to $16,045 (Bt65,741) per tael.
