Gold rises as investors prefer safe haven amid uncertainty
The price of gold rose by Bt450 per baht weight in the morning trade on Tuesday (July 28), the Gold Traders Association reported.
As of 9.31am, the buying price of gold bars was Bt29,200 per baht weight and selling price Bt29,300, while gold ornaments cost Bt28,667.56 and Bt29,800, respectively.
At close on Monday, the buying price of gold bars was Bt28,750 per baht weight and selling price Bt28,850, while gold ornaments cost Bt28,227.92 and Bt29,350, respectively.
The COMEX (Commodity Exchange) gold price to be delivered in August rose by US$33.5 or 1.77 per cent to $1,931 (Bt60,973) per ounce at Monday's close.
Gold closed at the highest as investors are still purchasing hold as a safe-haven asset amid uncertainty over US-China tensions, the Covid-19 pandemic and a weakening dollar.
