Gold rises as investors park funds in safe haven amid uncertainty, weakening dollar
The price of gold rose by Bt200 per baht weight during Wednesday’s (July 1) morning trade, the Gold Traders Association said.
As of 9.24am, the buying price for gold bars was Bt26,000 per baht weight, and selling price Bt26,100, while gold ornaments could be bought for Bt25,529.44 and sold at Bt26,600.
At closing on Tuesday, the buying price of gold bars was Bt25,800 per baht weight and selling price Bt25,900, while gold ornaments were going for Bt25,332.36 and Bt26,400, respectively.
On Wednesday morning, the Gold Spot Index moved to around US$1,782 (Bt55,168) per ounce after the price rose by $19.3 to $1,800.5 per ounce at Tuesday’s closing, the highest since September 2011.
Gold is gaining because investors are continuing to buy the metal as a safe-haven asset amid uncertainty over a second wave of Covid-19 infections and a weakening dollar.
