Thursday, October 22, 2020

Gold sees sharp rise amid weakening dollar, Covid-19 worries

Sep 29. 2020
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By The Nation

The price of gold rose by Bt450 per baht weight in morning trade on Tuesday, the Gold Traders Association reported.

As of 9.24am, 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.

At close yesterday, the buying price of a gold bar was Bt27,750 per baht weight and selling price Bt27,850, while gold ornaments cost Bt27,257.68 and Bt28,350, respectively.

The spot gold price moved to US$1,886 (Bt59,817.96) per ounce this morning after the price rose by $16 to $1,882.30 at close yesterday.

The gold price closed in positive territory from a weakening dollar and uncertainty over the Covid-19 pandemic, helping the precious metal as a safe-haven asset to become more attractive to investors.

Meanwhile, the Hong Kong gold price rose by HK$280, opening at $17,420 (Bt71,288.99) per tael this morning, the Chinese Gold and Silver Exchange Society reported.

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