Buying price of a gold bar was Bt24,600 per baht weight and selling price Bt24,700. Buying price of gold ornaments was Bt24,149.88 per baht weight and selling price Bt25,200.

Meanwhile, gold contracts in COMEX futures to be delivered in April dropped by 1.35 per cent to US$1,653.1 per ounce on Tuesday’s close due to investors selling their safe haven assets and turning to risk assets amid hopes of economic stimulus measures, the strengthening dollar, and rising oil prices.

Investors responded to US President Donald Trump’s move to issue economic stimulus measures, including reducing payroll tax and other urgent measures to relieve the impact from the Covid-19 outbreak.

Investors expect the US Federal Reserve to cut interest rate to up to 1 per cent during the meeting on March 17-18 next week although the Fed had recently made an emergency interest rate cut by half a percentage point last week.