Gold continues upward streak after mass purchases
The price of gold in Thailand rose by THB100 per baht weight in morning trade on Thursday, thanks to mass buy-ups of the safe-haven asset in response to a fall in US stock markets and cryptocurrencies after China announced it would ban all cryptocurrency transactions.
A Gold Traders Association report at 9.25am showed the buying price of a gold bar at THB27,700 per baht weight and selling price at THB27,800, while gold ornaments cost THB27,197.04 and THB28,300, respectively.
At close on Wednesday, the buying price of a gold bar was THB27,600 per baht weight and selling price THB27,700, while gold ornaments cost THB27,106.08 and THB28,200, respectively.
The spot gold price on Thursday was US$1,872 (THB58,789) per ounce compared to the price on Wednesday, when it rose by $13.50 to $1,881.50 per ounce.
The Hong Kong gold price meanwhile rose by HK$30 to $17,330 (THB70,091) per tael, the Chinese Gold and Silver Exchange Society reported.
