Weakening dollar pushes up demand for gold and price
The price of gold rose by THB250 per baht weight in morning trade on Tuesday, thanks to mass buy-ups of the precious metal as a safe-haven asset amid the weakening dollar.
The Gold Traders Association report at 9.28am showed buying price of a gold bar at THB27,700 per baht weight and selling price at THB27,800, while gold ornaments were priced at THB27,197.04 and THB28,300, respectively.
At close on Monday, the buying price of a gold bar was THB27,450 per baht weight and selling price THB27,550, while gold ornaments were priced at THB26,954.48 and THB28,050, respectively.
Spot gold price on Tuesday was US$1,870 (THB58,917) per ounce compared to Monday when it rose by $29.5 to $1,867.6 per ounce.
Hong Kong gold price on Tuesday rose by HK$140 to $17,310 (THB70,229) per tael, the Chinese Gold and Silver Exchange Society reported.
