Thursday, September 16, 2021

business

Price plummets as high sales rob gold of its glitter


The price of gold in Thailand dropped by THB450 per baht weight on Monday morning.

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The Gold Traders Association report at 9.29am showed the buying price of a gold bar at THB27,450 per baht weight and selling price at THB27,550, while gold ornaments were priced at THB26,954.48 and THB28,050, respectively.


At close on Saturday, the buying price of a gold bar was THB27,900 per baht weight and selling price THB28,000, while gold ornaments were priced at THB27,394.12 and THB28,500, respectively.


Spot gold on Monday morning dropped to US$1,738 (THB58,119) per ounce after Comex gold price at close on Friday dropped heavily by $45.8 to $1,763.1 per ounce, due to pressure from the selling of gold as safe-haven assets, after US non-farm payroll in July surged beyond expectation.

Hong Kong gold price meanwhile crashed by HK$680 to $16,030 (THB68,887) per tael, the Chinese Gold and Silver Exchange Society reported.

Published : August 09, 2021

By : The Nation