Gold takes another tumble as investors eye stocks
The price of gold dropped sharply by Bt600 per baht weight on Monday morning (March 2) from its close on Friday last week, the Gold Traders Association reported.
Buying price of a gold bar was Bt23,650 per baht weight and selling price Bt23,750, while it was Bt23,225.12 to buy gold ornaments and Bt24,250 to sell, the association said.
The price had dropped by about Bt600 per baht weight from Friday’s close due to investors starting to borrow cash to buy stocks during a decline in the stock market, and the strengthening baht which rose to Bt31.52 against the dollar.
On Friday, the price to buy a gold bar was Bt24,250 per baht weight while the sale price was Bt24,350 and buying price for gold ornaments was Bt23,816.36 and Bt24,850 for sale.
