Saturday, August 08, 2020

Covid-19 worries weakens dollar, boosts gold price

Jul 07. 2020
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By The Nation

The price of gold rose by Bt100 per baht weight in morning trade today (July 7), the Gold Traders Association reported.

As of 9.29am, the buying price of a gold bar was Bt26,150 per baht weight and selling price Bt26,250, while gold ornaments cost Bt25,681.04 and Bt26,750, respectively.

At close yesterday, the 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.

The price under Comex (Commodity Exchange) to be delivered in August rose by US$3.5, or 0.2 per cent, to $1,793.5 (Bt55,660) per ounce at close yesterday.

Investors were buying gold as a safe haven asset due to uncertainty amid an unhealthy increase in new Covid-19 cases worldwide and the weakening dollar.

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