Gold rises on the back of unsteady stock markets
The price of gold rose by Bt50 per baht weight in morning trade on Friday (June 5), the Gold Traders Association reported.
As of 9.32am, buying price of a gold bar was Bt25,500 per baht weight and selling price Bt25,600, while gold ornaments were priced at Bt25,044.32 and Bt26,100, respectively.
At close on Thursday (June 4), buying price of a gold bar was Bt25,450 per baht weight and selling price Bt25,550, while gold ornaments were priced at Bt24,998.84 and Bt26,050, respectively.
The Gold Spot Index price this morning moved to around US$1,713 (Bt53,990) per ounce after the price rose by $22.6 to $1,727.4 per ounce at close on Wednesday.
Gold price gained positive sentiment from the weakening dollar and the European Central Bank’s additional economic stimulus measure. Meanwhile, investors were buying gold as safe haven assets after stock indices worldwide began to fall.
The Hong Kong gold price rose by HK$95 to $15,885 (Bt64,603) per tael.
