Gold gains on weakening dollar, US election uncertainty
The price of gold rose by Bt50 per baht weight in morning trade on Saturday, the Gold Traders Association reported.
As of 9.21am, the buying price of a gold bar was Bt28,150 per baht weight and selling price Bt28,250, while gold ornaments were priced at Bt27,636.68 and Bt28,750, respectively.
At close on Friday, 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.
The Commodity Exchange gold price to be delivered in December rose by US$4.90, or 0.3 per cent, closing at $1,951.70 (Bt59,705) per ounce on Friday. Gold price rose by 3.8 per cent this week, the highest since July 31.
Gold price closed in positive territory, as uncertainty over the result of the US presidential election and the weakening dollar led to mass buy-ups of the precious metal.
