Thursday, October 22, 2020

Gold price rises in Thailand despite fall in US market

Sep 18. 2020
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By The Nation

The price of gold rose by Bt50 per baht weight in morning trade on Friday (September 18), the Gold Traders Association reported.

As of 9.26am, the buying price of a gold bar was Bt28,650 per baht weight and selling price Bt28,750 while gold ornaments were priced at Bt28,136.96 and Bt29,250, respectively.

At close on Thursday, the buying price of a gold bar was Bt28,600 per baht weight and selling price Bt28,700, while gold ornaments were priced at Bt28,091.48 and Bt29,200, respectively.

The Comex (Commodity Exchange) gold price to be delivered in December dropped by US$20.6, or 1.05 per cent, closing at $1,949.9 (Bt60,758.09) per ounce on Thursday.

Gold price closed in negative territory on Thursday, as investors were disappointed with US Federal Reserve's move. Although the central bank indicated it would maintain the interest rate at a low level for three years, it did not reveal any measures to stimulate the economy.

Hong Kong gold price rose by HK$70, opening at $18,030 (Bt72,471.45) per tael on Friday morning, the Chinese Gold and Silver Exchange Society reported.

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