Gold slumps amid hopes of a Covid-19 vaccine
The price of gold dropped sharply by Bt500 per baht weight in morning trade on Tuesday after the price was unchanged at close on Monday, the Gold Traders Association reported.
As of 9.28am, the buying price of a gold bar was Bt26,250 per baht weight and selling price Bt26,350, while gold ornaments were priced at Bt25,772 and Bt26,850, respectively.
At close on Monday, the buying price of a gold bar was Bt26,750 per baht weight and selling price Bt26,850, while gold ornaments were Bt26,272.28 and Bt27,350, respectively.
Spot gold price moved to US$1,829 (Bt55,628) per ounce in the morning, while Comex (Commodity Exchange) gold price to be delivered in December dropped sharply by $34.6 to $1,837.8 per ounce on Monday due to mass sell-offs in safe-haven assets in response to positive news of a Covid-19 vaccine.
Hong Kong gold price meanwhile dropped by HK$340 to $16,970 (Bt66,567) per tael, the Chinese Gold and Silver Exchange Society reported.
