Saturday, August 15, 2020

Gold price comes under pressure from sales for profit-taking

Jul 10. 2020
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By The Nation

The price of gold was unchanged in morning trade on Friday (July 10), the Gold Traders Association reported.

As of 9.28am, the buying price of a gold bar was Bt26,600 per baht weight and selling price Bt26,700, while gold ornaments cost Bt26,120.68 and Bt27,200, respectively.

Spot gold price moved to US$1,802 (Bt56,403) on Friday morning after the price dropped by $16.8 to $1,803.8 (Bt56,459) per ounce at close on Thursday.

Investors were selling gold to take profit after the price rose to the highest in almost nine years, while the strengthening dollar also pressured the gold price.

Hong Kong gold price dropped by HK$100, opening at $16,660 (Bt67,280) per tael Friday morning.

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