By The Nation
Thailand's gold price dropped sharply by Bt1,150 per baht weight last week, the lowest in over five months.
As of 9.21am, the buying price of a gold bar was Bt25,500 per baht weight and selling price Bt25,600, while gold ornaments were priced at Bt25,044.32 and Bt26,100, respectively.
At close on Saturday, the buying price of a gold bar was Bt25,600 per baht weight and selling price Bt25,700, while gold ornaments cost Bt25,135.28 and Bt26,200, respectively.
Spot gold price moved to US$1,781 (Bt53,930) per ounce in the morning, while the Comex (Commodity Exchange) gold price to be delivered in February next year dropped by $23.1 to $1,788.1 per ounce on Friday as investors turned from safe-haven assets to risk assets that generate higher returns, such as stocks that benefit from positive news of a Covid-19 vaccine.
Hong Kong gold price meanwhile dropped by HK$230 to $16,490 (Bt64,424) per tael, the Chinese Gold and Silver Exchange Society reported.