Saturday, September 26, 2020

Hordes cash in as gold price rockets past Bt30,000

Aug 08. 2020
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By The Nation

Photos of people flocking to sell their gold at shops in Bangkok's Yaowarat went viral on social media on Friday after the price of the precious metal skyrocketed past Bt30,000 per baht weight.

Queues spilled out onto the pavement at one Chinatown gold shop as people rushed to exchange their jewellery and ornaments for record high prices.

As of 1.48pm, the buying price of gold bar was Bt30,200 per baht weight and the selling price Bt30,300, while gold ornaments were worth Bt29,652.96 and Bt30,800, respectively.

During morning trade, the buying price of a gold bar was Bt30,250 per baht weight and selling price Bt30,350, while gold ornaments cost Bt29,698.44 and Bt30,850, respectively.

The price of gold is being driven up by its reputation as a safe haven for investors during the economic impact of Covid-19.

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