Monday, September 20, 2021

business

Gold gets a boost as dollar weakens after Fed keeps status quo


The price of gold in Thailand rose by THB100 per baht weight on Friday morning.

The Gold Traders Association report at 9.26am showed the buying price of a gold bar at THB28,300 per baht weight and selling price THB28,400, while gold ornaments were priced at THB27,788.28 and THB28,900, respectively.

At close on Thursday, the buying price of a gold bar was THB28,200 per baht weight and selling price THB28,300, while gold ornaments were priced at THB27,697.32 and THB28,800, respectively.

Spot gold on Friday was US$1,828 (THB60,155) per ounce after Comex gold on Thursday rose by $31.2 to $1,835.8 per ounce on the weakening dollar after the US Federal Reserve maintained its interest rate at 0.25 per cent and continued with its quantitative easing programme.

US GDP growth missing forecasts in the second quarter also boosted mass buy-ups of the precious metal.

Hong Kong gold price, meanwhile, rose by HK$70 to $16,940 (THB71,720) per tael, the Chinese Gold and Silver Exchange Society reported.

Published : July 30, 2021

By : The Nation