Sunday, February 28, 2021

Gold moves up on strong US economic data, weakening dollar

Feb 22. 2021
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By The Nation

The price of gold rose by Bt50 per baht weight in morning trade on Monday, the Gold Traders Association reported.

As of 9.25am, the buying price of a gold bar was Bt25,300 per baht weight and selling price Bt25,400, while gold ornaments were priced at Bt24,847.24 and Bt25,900, respectively.

At close on Saturday, the buying price of a gold bar was Bt25,250 per baht weight and selling price Bt25,350, while gold ornaments cost Bt24,801.76 and Bt25,850, respectively.

Spot gold price moved to US$1,786 (Bt53,592) per ounce after rising by $2.4 to $1,777.4 on Friday, thanks to the weakening dollar, strong US economic data and hopes of rollout of a US economic stimulus package.

Hong Kong gold price rose by HK$130 to $16,510 (Bt63,898) per tael, the Chinese Gold and Silver Exchange Society reported.

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