Gold hits new high in Thailand amid global economic uncertainty
The price of gold rose by Bt50 per baht weight in morning trade on Monday (July 20), the highest since the gold price has been announced in the country, the Gold Traders Association reported.
As of 9.30am, the buying price of a gold bar was Bt27,050 per baht weight and selling price Bt27,150, while gold ornaments cost Bt26,560.32 and Bt27,650, respectively.
At close on Saturday (July 18), the buying price of a gold bar was Bt27,000 per baht weight and selling price Bt27,100, while gold ornaments cost Bt26,514.84 and Bt27,600, respectively.
Spot gold price moved to US$1,807 (Bt57,412) on Monday morning after the price rose by $9.7 to $1,810 (Bt57,508) per ounce at Friday's close.
Gold has gained from expectations that the US and Europe will issue additional economic stimulus measures and there will be mass buy-up of gold as a safe-haven asset amid uncertainty about the Covid-19 impact on the global economy after the number of new cases has continued to rise.
Hong Kong gold price opened at $16,710 (Bt68,502) per tael this morning.
