Gold price sees big jump in Thai, Hong Kong markets on back of Comex surge
The price of gold rose by THB300 in morning trade on Monday.
The Gold Traders Association report at 9.32am showed buying price of a gold bar at THB27,950 per baht weight and selling price at THB28,050, while gold ornaments were priced at THB27,439.60 and THB28,550, respectively.
At close on Friday, buying price of a gold bar was THB27,650 per baht weight and selling price THB27,750, while gold ornaments were priced at THB27,151.56 and THB28,250, respectively.
Spot gold price on Monday morning was around US$1,780 (THB59,430) per ounce after Comex gold at close on Friday shot up by $26.40 to $1,778.20 due to support for buying gold as a safe-haven asset after the US revealed that the Michigan University Consumer Confidence Index survey had dropped lower than expectation.
Hong Kong gold price, meanwhile, rose sharply by HK$220 to $16,530 (THB70,773) per tael on Monday, the Chinese Gold and Silver Exchange Society reported.
