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Gold price rises amid worries over US presidential election, surge in Covid-19 cases in Europe

Nov 03. 2020
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By The Nation

The price of gold rose by Bt50 per baht weight in morning trade on Tuesday, the Thai Gold Traders Association reported.

As of 9.21am, the buying price of a gold bar was Bt27,800 per baht weight and selling price Bt27,900, while gold ornaments were priced at Bt27,303.16 and Bt28,400, respectively.

At close on Monday, the buying price of a gold bar was Bt27,750 per baht weight and selling price Bt27,850 while gold ornaments were Bt27,257.68 and Bt28,350, respectively.

Spot gold price moved to US$1,895 (Bt58,898) per ounce in the morning after the price rose by US$12.6 to $1,892.5 per ounce on Monday's close due to mass buy-ups of safe-haven assets in response to uncertainty over the result of the US presidential election and the Covid-19 outbreak in Europe and US.

Hong Kong gold rose by HK$60 to $17,500 (Bt70,171) per tael this morning, the Chinese Gold and Silver Exchange Society reported.

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