Gold price drops amid worries of delay in US economic stimulus until the election
The price of gold dropped by Bt50 per baht weight in morning trade on Tuesday, the Gold Traders Association reported.
As of 9.19am, the buying price of a gold bar was Bt28,200 per baht weight and selling price Bt28,300 while gold ornaments were priced at Bt27,697.32 and Bt28,800, respectively.
At close on Monday, the buying price of a gold bar was Bt28,250 per baht weight and selling price Bt28,350 while gold ornaments were Bt27,742.80 and Bt28,850, respectively.
The Comex (Commodity Exchange) gold price to be delivered in December rose by US$2.7, or 0.14 per cent, closing at $1,928.9 (Bt60,241.88) per ounce on Monday.
Investors were buying gold as safe-haven assets due to uncertainty over the US political situation before the presidential election on November 3.
Meanwhile, investors were worried that US lawmakers would not be able to launch economic stimulus measures to mitigate the Covid-19 impact before the election.
