Gold sees slight rally after last week's slide
The price of gold rose by Bt50 per baht weight in morning trade on Monday, the Gold Traders Association reported.
As of 9.27am, the buying price of a gold bar was Bt26,150 per baht weight and selling price Bt26,250, while gold ornaments were priced at Bt25,681.04 and Bt26,750, respectively.
At close on Saturday, the buying price of a gold bar was Bt26,100 per baht weight and selling price Bt26,200, while gold ornaments were Bt25,635.56 and Bt26,700 respectively. The price had dropped by Bt150 per baht weight last week.
Spot gold moved to US$1,855 (Bt55,459) per ounce in the morning, while Comex (Commodity Exchange) gold rose by $9.1 to $1,850.3 per ounce on Friday, thanks to mass buy-ups of safe-haven assets after the sharp fall in US stock market due to uncertainty over speculation on GameStop shares.
Meanwhile, gold gained positive sentiment from the delay in delivery of Covid-19 vaccine, which affects economic recovery.
Hong Kong gold price rose by HK$70 to $17,140 (Bt66,093) per tael, the Chinese Gold and Silver Exchange Society reported.