Fri, September 24, 2021

business

Gold price surges amid rise in demand as safe-haven asset


The price of gold in Thailand rose by THB150 on Tuesday morning.

The Gold Traders Association report at 9.30am showed buying price of a gold bar at THB28,150 per baht weight and selling price at THB28,250, while gold ornaments were priced at THB27,636.68 and THB28,750, respectively.


At close on Monday, buying price of a gold bar was THB28,000 per baht weight and selling price THB28,100, while gold ornaments were priced at THB27,500.24 and THB28,600, respectively.


Spot gold on Tuesday morning rose to US$1,786 (THB59,743) per ounce after Comex gold price at close on Monday continuously rose by $11.60 to $1,789.8 per ounce, due to support for buying gold as a safe-haven asset after the US manufacturing index slowed to lower than expectation. In addition, the gold price was supported by the positive factor of a drop in the US government bond yield.

Hong Kong gold price, meanwhile, again rose sharply by HK$120 to $16,590 (THB71,280) per tael, the Chinese Gold and Silver Exchange Society reported.

Published : August 17, 2021

By : The Nation