Tuesday, September 29, 2020

Thai gold price drops against global market trend

Aug 11. 2020
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By The Nation

The price of gold dropped by Bt200 per baht weight in the morning trade on Tuesday (August 11), the Gold Traders Association reported.

As of 9.30am, the buying price of a gold bar was Bt29,600 per baht weight and selling price Bt29,700, while gold ornaments cost Bt29,061.72 and Bt30,200, respectively.

At close on Monday (August 10), the buying price of a gold bar was Bt29,800 per baht weight and selling price Bt29,900, while gold ornaments cost Bt29,258.80 and Bt30,400, respectively.

The Comex (Commodity Exchange) gold price to be delivered in December rose by US$11.7 or 0.58 per cent to $2,039.7 (Bt63,475.84) per ounce at yesterday's close.

Gold price, however, closed positive due to investors buying gold as a safe-haven asset due to uncertainty following the US-China tensions.

Meanwhile, gold contracts gained positive sentiment from hopes of the US Congress and the White House reaching an agreement on a US$1-trillion stimulus package within this week.

The Chinese Gold and Silver Exchange Society has revealed that the Hong Kong gold price dropped by HK$140, opening at $18,650 (Bt74,893.72) per tael this morning.

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