Gold price drops amid hopes for Covid-19 vaccine
The price of gold dropped by Bt300 per baht weight in trade this morning (May 19), the Gold Traders Association reported.
As of 9.21am, the buying price of a gold bar was Bt26,100 per baht weight and selling price Bt26,300, while gold ornaments were priced at Bt25,635.56 and Bt26,800, respectively.
At Monday’s close, 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.
The Gold Spot Index price this morning moved to around US$1,740 (Bt55,530) per ounce after the price dropped by $21.90 to $1,734.4 per ounce at close on Monday.
Investors were selling gold after the US Dow Jones Index rose more than 900 points in response to news reports that a Covid-19 vaccine had seen progress.
Meanwhile, the price of gold on the Hong Kong market dropped by HK$260 to $16,050 (Bt66,084) per tael.
