Thursday, October 22, 2020

Gold flat from strong dollar, robust US economic data

Sep 23. 2020
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By The Nation

The price of gold was unchanged in morning trade today (September 23), the Gold Traders Association reported.

As of 9.25am, the buying price of a gold bar was Bt28,200 per baht weight and selling price Bt28,300, while gold ornaments cost Bt27,697.32 and Bt28,800, respectively.

The gold price dropped by Bt300 per baht weight at close yesterday as the association announced a change in the price of the precious metal nine times.

The Comex (Commodity Exchange) gold price to be delivered in December dropped by US$3, or 0.16 per cent, closing at $1,907.60 (Bt60,096.50) per ounce yesterday.

The gold price moved in negative territory last night due to the strengthening dollar and strong US economic data, causing investors to reduce investment in the metal as a safe-haven asset.

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