Tuesday, July 14, 2020

Gold price falls as rising stock markets prompt sale of precious metal

Jun 04. 2020
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By THE NATION

The price of gold fell on Thursday morning (June 4) by Bt150 per baht weight, the Gold Traders Association reported.

As of 9.24am, the buying price of gold ornaments was Bt26,100 per baht weight and selling price Bt25,044.32, while a gold bar was priced at Bt25,600 and Bt25,500, respectively.

The Gold Spot Index price this morning moved to around US$1,740 (Bt55,011), after decreasing by $29.2 to $1704.8 on Wednesday night.

This was the lowest point in the past one month, since investors decided to sell their safe haven asset after the Dow Jones rose in line with employment numbers in the US private sector, which exceeded market expectations.

The gold price in the Hong Kong market fell to HK$15,710 (Bt64151.32) per tael.

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