Thursday, October 22, 2020

Gold price flat due to dollar appreciation, strong US economic data

Oct 01. 2020
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By The Nation

The price of gold was unchanged in morning trade on Thursday, the Gold Traders Association reported.

As of 9.22am, the buying price of a gold bar was Bt28,150 per baht weight and selling price Bt28,250, while gold ornaments cost Bt27,636.68 and Bt28,750, respectively.

The gold price at Wednesday’s close rose by Bt50 per baht weight after the association announced a change in the price of the precious metal four times.

The spot gold price moved to US$1,889 (Bt59,677.48) per ounce on Thursday morning after the price dropped by $7.70 to $1,895.50 per ounce at yesterday’s close.

The gold price closed in negative territory due to a strengthening dollar, the rise in US stock markets and strong US economic data.

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