Gold prices soar amid increasing Covid-19 cases globally
The price of gold rose by Bt300 per baht weight in morning trade on Wednesday (July 8), the Gold Traders Association reported.
As of 9.27am, the buying price of a gold bar was Bt26,450 per baht weight and selling price Bt26,550, while gold ornaments cost Bt25,969.08 and Bt27,050, respectively.
At close on Tuesday (July 7), the buying price of a gold bar was Bt26,150 per baht weight and selling price Bt26,250, while gold ornaments were priced at Bt25,681.04 and Bt26,750, respectively.
The spot gold price moved to US$1,794 (Bt56,136) on Wednesday morning after the price rose by $16.4 to $1,809.9 (Bt56,634) per ounce at close on Tuesday, the highest in almost nine years.
Investors were buying gold as a safe-haven asset due to uncertainty following the increasing number of Covid-19 cases worldwide.
