Weakening dollar revives demand for gold
The price of gold was unchanged in morning trade on Monday, the Gold Traders Association reported.
As of 9.19am, the buying price of a gold bar was Bt28,550 per baht weight and selling price Bt28,650, while gold ornaments were priced at Bt28,030.84 and Bt29,150, respectively.
Gold price on Saturday rose by Bt50 per baht weight as the association announced a change in the precious metal's price for one time.
Spot gold price moved to US$1,951 (Bt60,451.04) per ounce Monday morning after the price rose by $12.2 to $1,962.1 per ounce at Friday's close.
Gold price closed in positive territory on Friday, as investors were buying gold as a safe-haven asset amid uncertainty over economic recovery and the weakening dollar.
Hong Kong gold price dropped by HK$30, opening at $18,040 (Bt72,121.86) per tael Monday morning, the Chinese Gold and Silver Exchange Society reported.
