Gold slides from positive news of Covid-19 treatment
The price of gold dropped by Bt100 per baht weight in morning trade today (August 25), the Gold Traders Association reported.
As of 9.28am, the buying price of a gold bar was Bt28,750 per baht weight and selling price Bt28,850, while gold ornaments cost Bt28,227.92 and Bt29,350, respectively.
At close yesterday, the buying price of a gold bar was Bt28,850 per baht weight and selling price Bt28,950, while gold ornaments cost Bt28,334.04 and Bt29,450, respectively.
The Hong Kong gold price dropped by HK$160, opening at $17,830 (Bt72,371.85) per tael this morning, the Chinese Gold and Silver Exchange Society said.
The Comex (Commodity Exchange) gold price to be delivered in December dropped by US$7.80, or 0.4 per cent, to $1,939.2 (Bt61,000) per ounce compared to the price at yesterday’s close, the lowest since July 27 this year.
The gold price closed in negative territory as investors sold the precious metal to hold risk assets that generate higher returns, after stock markets soared from positive news of US Covid-19 treatment.
