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Gold price drops due to uncertainty over US stimulus rollout
EconOct 08. 2020
By The Nation
The price of gold dropped by Bt50 per baht weight in morning trade on Thursday, the 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 cost Bt27,303.16 and Bt28,400, respectively.
At close on Wednesday, the buying price of a gold bar was Bt27,850 per baht weight and selling price Bt27,950, while gold ornaments cost Bt27,348.64 and Bt28,450, respectively.
The spot gold price moved to US$1,887 (Bt58,971) per ounce on Thursday morning after the price dropped by $18 to $1,890.80 per ounce at close on Wednesday due to uncertainty over the rollout of US economic stimulus measures after US President Donald Trump first called off negotiations until the end of the presidential election but then decided to promote the stimulus bill again.
The Hong Kong gold price dropped by HK$60, opening at $17,440 (Bt70,320) per tael in the morning, the Chinese Gold and Silver Exchange Society reported.
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