Thursday, August 13, 2020

Worries over Covid-19 situation increases demand for gold

Jul 03. 2020
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By The Nation

The price of gold rose by Bt100 per baht weight in morning trade on Friday (July 3), the Gold Traders Association reported.

As of 9.24am, buying price of a gold bar was Bt26,050 per baht weight and selling price Bt26,150, while gold ornaments were priced at Bt25,574.92 and Bt26,650, respectively.

At close on Thursday (July 2), buying price of a gold bar was Bt25,950 per baht weight and selling price Bt26,050, while gold ornaments were priced at Bt25,483.96 and Bt26,550, respectively.

The price of gold contracts in Comex (Commodity Exchange) to be delivered in August rose by US$10.1 per ounce or 0.57 per cent, closing at $1,790 per ounce at yesterday’s close.

Investors were buying gold as a safe haven asset due to uncertainty following the Covid-19 outbreak as the number of new cases worldwide continue to increase

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