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Weakening dollar, worries over US economic stimulus rollout push gold up
EconOct 10. 2020
By The Nation
The price of gold rose by Bt150 per baht weight in morning trade on Saturday, the Gold Traders Association reported.
As of 9.10am, the buying price of a gold bar was Bt28,200 per baht weight and selling price Bt28,300 while gold ornaments were priced at Bt27,697.32 and Bt28,800, respectively.
At close on Friday, the buying price of a gold bar was Bt28,050 per baht weight and selling price Bt28,150 while gold ornaments were Bt27,545.72 and Bt28,650, respectively.
The Comex (Commodity Exchange) gold price to be delivered in December rose by US$31.1, or 1.64 per cent, closing at $1,926.2 (Bt59,676) per ounce on Friday. The metal price rose by 1 per cent this week.
Gold price closed in positive territory from the weakening dollar and uncertainty over the rollout of US economic stimulus measures, resulting in mass buy-ups of the metal as a safe-haven asset.