Gold price rises on weak US economic data, US-China trade war worries
The price of gold rose by Bt250 per baht weight in morning trade today (May 18), the Gold Traders Association reported.
As of 9.24am, the buying price of a gold bar was Bt26,400 per baht weight and selling price Bt26,600, while gold ornaments were priced at Bt25,923.60 and Bt27,100, respectively.
At close on Saturday, the buying price of a gold bar was Bt26,150 per baht weight and selling price Bt26,350, while gold ornaments were priced at Bt25,681.04 and Bt26,850, respectively.
The Gold Spot Index price this morning moved to around US$1,763 (Bt56,483) per ounce after the price rose by $15.4 to $1,756.3 per ounce at close on Friday.
Investors were buying gold as a safe haven asset due to weak US economic data and uncertainty following a renewed US-China trade war.
Meanwhile, the Hong Kong gold price rose by HK$180 to $16,050 (Bt66,333) per tael.
