Thursday, October 22, 2020

Gold continues to gain from weakening dollar, Covid-19 worries

Sep 30. 2020
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By The Nation

The price of gold rose by Bt200 per baht weight in morning trade on Wednesday, the Gold Traders Association reported.

As of 9.26am, the buying price of a gold bar was Bt28,300 per baht weight and selling price Bt28,400 while gold ornaments were priced at Bt27,788.28 and Bt28,900, respectively.

At close on Tuesday, the buying price of a gold bar was Bt28,100 per baht weight and selling price Bt28,200 while gold ornaments were Bt27,591.20 and Bt28,700, respectively.

Spot gold price moved to US$1,896 (Bt60,056.19) per ounce on Wednesday morning after the price rose by $20.9 to $1,903.2 per ounce at close on Tuesday.

Gold price closed in positive territory from the weakening dollar and mass buy-ups of the precious metal as a safe-haven asset amid uncertainty over the Covid-19 impact on the economy.

Hong Kong gold price rose by HK$120, opening at $17,520 (Bt71,619.46) per tael on Wednesday morning, the Chinese Gold and Silver Exchange Society reported.

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