Friday, December 04, 2020

Gold price rises amid worries over Covid-19 impact on economy

Oct 31. 2020
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By The Nation

The price of gold rose by Bt100 per baht weight in morning trade on Saturday, the Gold Traders Association reported.

As of 9.23am, the buying price of a gold bar was Bt27,650 per baht weight and selling price Bt27,750, while gold ornaments were priced at Bt27,151.56 and Bt28,250, respectively.

At close on Friday, the buying price of a gold bar was Bt27,550 per baht weight and selling price Bt27,650, while gold ornaments were Bt27,060.60 and Bt28,150, respectively.

The Comex (Commodity Exchange) gold price to be delivered in December rose by US$11.90, or 0.64 per cent, closing at $1,879.90 (Bt58,477) per ounce on Friday. However, the metal price dropped by 1.3 per cent this week and dropped by 0.8 per cent this month.

Gold price rose technically after falling in previous days. Meanwhile, it gained positive sentiment from mass buy-ups of the metal as a safe-haven asset in response to uncertainty over Covid-19's impact on the economy.

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