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Gold price rises despite global fall

EconNov 05. 2020

By The Nation

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

As of 9.30am, the buying price of a gold bar was Bt27,900 per baht weight and selling price Bt28,000, while gold ornaments cost Bt27,394.12 and Bt28,500, respectively.

At close on Wednesday, 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.

The spot gold price moved to US$1,906 (Bt59,148) per ounce in the morning after the price dropped by $14.20 to $1,896.20 per ounce at Wednesday’s close as the market did not expect the result of the US presidential election to be announced soon because of the nail-biting fight between the Democrats and Republicans.

The Hong Kong gold price meanwhile rose by HK$130 to $17,620 (Bt70,515) per tael, the Chinese Gold and Silver Exchange Society reported.