Tue, October 26, 2021


Gold price surges amid the US high inflation numbers

The price of gold rose sharply by THB250 in morning trade on Thursday, reported the Gold Trader Association.

A report at 9.28am said the buying price of a gold bar was THB28,050 per baht weight and selling price THB28,150, while the buying and selling price of gold ornaments is THB27,545.72 and THB28,650, respectively.

At close on Wednesday, the buying price of a gold bar was THB27,800 per baht weight and selling price THB27,900, while gold ornaments were THB27,303.16 and THB28,400, respectively. 

The spot gold price on Thursday morning hovered around US$1,789 (THB59,376) per ounce after Comex gold at close on Wednesday surged by $35.4 to $1,794.7 per ounce due to support in buying gold as a safe-haven asset after the US released the inflation numbers which were higher than expected, and in addition, the gold market also gained positive factors driven by the depreciation of the US dollar and the lower US bond yields.

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Published : October 14, 2021