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Gold price rises by Bt100

Mar 05. 2020
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By THE NATION

The price of gold rose by Bt100 per baht weight on Thursday morning (March 5), the Gold Traders Association reported.

At 9.28am, the buying price of a gold bar was Bt24,300 per baht weight and selling price Bt24,400, while buying price of gold ornaments was Bt23,861.84 per baht weight and selling price Bt24,900.

The price rose by about Bt100 per baht weight from the Wednesday’s close (March 4) when buying price of a gold bar was Bt24,200 and selling price Bt24,300, while buying price of gold ornaments was Bt23,770.88 and selling price Bt24,800.

Meanwhile, gold contracts in COMEX futures decreased by $1.40 to $1,643.00 per ounce at close on Wednesday after the Federal Open Market Committee of the US Federal Reserve had cut the interest rate by half a percentage point to mitigate the impact of Covid-19 outbreak on the economy.

An analyst expected the Fed to further cut the interest rate at the monetary policy meeting on March 17-18 this year.

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