Gold continues last weeks upward trend despite sell-offs
The price of gold in Thailand rose by THB100 per baht weight in morning trade on Monday despite mass sell-offs of the precious metal after its price had risen for six consecutive days.
The Gold Traders Association report at 9.30am showed buying price of a gold bar at THB27,900 per baht weight and selling price at THB28,000, while gold ornaments were priced at THB27,394.12 and THB28,500, respectively.
At close on Saturday, the buying price of a gold bar was THB27,800 per baht weight and selling price THB27,900, while gold ornaments were priced at THB27,303.16 and THB28,400, respectively.
The price had risen by THB600 per baht weight last week.
Spot gold price on Monday was US$1,886 (THB59,217) per ounce compared to Friday when it dropped by $5.2 to $1,876.7 per ounce.
Hong Kong gold price on Monday rose by HK$50 to $17,430 (THB70,488) per tael, the Chinese Gold and Silver Exchange Society reported.