Tuesday, August 11, 2020

Gold maintains upward trend, gaining also from weakening dollar

Jul 09. 2020
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By The Nation

The price of gold rose by Bt100 per baht weight in morning trade on Thursday (July 9), the Gold Traders Association reported.

As of 9.28am, the buying price of a gold bar was Bt26,550 per baht weight and selling price Bt26,650, while gold ornaments cost Bt26,075.20 and Bt27,150, respectively.

At close on Wednesday (July 8), the buying price of a gold bar was Bt26,450 per baht weight and selling price Bt26,550, while gold ornaments were priced at Bt25,969.08 and Bt27,050, respectively.

Spot gold price moved to US$1,809 (Bt56,421) on Thursday morning after the price rose by $10.7 to $1,820.6 (Bt56,783) per ounce at close on Wednesday, the highest in almost nine years as investors expected governments and central banks worldwide to issue economic stimulus measures to mitigate the Covid-19 impact.

Meanwhile, gold gained from the weakening dollar as well.

Hong Kong gold price rose by HK$85, opened at $16,695 (Bt67,184) per tael Thursday morning.

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