Thu, September 23, 2021

business

Gold edges lower in Thailand, HK despite Comex demand spike


The price of gold dropped by THB100 on Wednesday morning.

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A Gold Traders Association report at 9.22am said the buying price of a gold bar was THB27,950 per baht weight and selling price THB28,050, while gold ornaments were priced at THB27,439.60 and THB28,550, respectively.


At close on Tuesday, the buying price of a gold bar was THB28,050 per baht weight and selling price THB28,150, while gold ornaments were THB27,545.72 and THB28,650, respectively.


Spot gold price on Wednesday morning was moving at around US$1,795 (THB59,127) per ounce after Comex gold rose by $2.20 to $1,808.50 per ounce at close on Tuesday, due to support for buying gold as a safe-haven asset amid concerns over the effects of the Covid-19 Delta variant. Meanwhile, investors are monitoring the US Federal Reserve annual meeting in Jackson Hole, Wyoming from August 26-28 for indicators of its monetary policy direction.

Hong Kong gold price, meanwhile, dropped by HK$50 to $16,680 (THB70,581) per tael, the Chinese Gold and Silver Exchange Society reported.

Published : August 25, 2021

By : The Nation