Sunday, September 27, 2020

Gold continues its march for fifth successive day

Aug 07. 2020
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By The Nation

Gold price has hit a new high for five consecutive days from the weakening dollar and hopes of a US economic stimulus package.

The price of gold rose by Bt300 per baht weight in morning trade on Friday (August 7), the Gold Traders Association reported.

As of 9.27am, 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.

At close on Thursday (August 6), the buying price of a gold bar was Bt29,950 per baht weight and selling price Bt30,050, while gold ornaments cost Bt29,410.40 and Bt30,550, respectively.

The Comex (Commodity Exchange) gold price to be delivered in December rose by US$20.1 or 0.98 per cent to $2,069.4 (Bt64,537.12) per ounce at close on Thursday.

Gold closed at a new high for the fifth consecutive day from the weakening dollar and ongoing progress in the US$1-trillion US economic stimulus package. Also, the market gained positive sentiment from the Bank of England's move to maintain interest rate and the promise that the bank will not tighten monetary policy until inflation rate moves to their target.

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