Gold makes spectacular gains
The price of gold surged by Bt300 per baht weight in morning trade on Monday after rising by Bt50 per baht weight at close on Saturday, the Gold Traders Association reported.
As of 9.26am, the buying price of a gold bar was Bt26,800 per baht weight and selling price Bt26,900 while gold ornaments were priced at Bt26,317.76 and Bt27,400, respectively.
At close on Saturday, the buying price of a gold bar was Bt26,500 per baht weight and selling price Bt26,600 while gold ornaments were Bt26,029.72 and Bt27,100, respectively. The price jumped by Bt350 per baht weight last week.
Spot gold price moved to US$1,898 (Bt56,966) per ounce in the morning, while Comex (Commodity Exchange) gold price to be delivered in February next year dropped by $1.5 to $1,888.9 per ounce on Friday due to the dollar's appreciation and mass sell-offs of the precious metal after the price hit the highest level in six weeks on Thursday.
Hong Kong gold price rose by HK$90 to $17,460 (Bt67,578) per tael, the Chinese Gold and Silver Exchange Society reported.
