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Gold price drops amid positive news of Pfizer’s Covid-19 vaccine
EconNov 19. 2020
By The Nation
The price of gold dropped by Bt100 per baht weight in morning trade on Thursday after the price was unchanged at close on Wednesday, the Gold Traders Association reported.
As of 9.26am, the buying price of a gold bar was Bt26,800 per baht weight and selling price Bt26,900, while gold ornaments cost Bt26,317.76 and Bt27,400, respectively.
At close on Wednesday, the buying price of a gold bar was Bt26,900 per baht weight and selling price Bt27,000, while gold ornaments cost Bt26,408.72 and Bt27,500, respectively.
The spot gold price moved to US$1,871 (Bt56,778) per ounce in the morning, while the Comex (Commodity Exchange) gold price to be delivered in December dropped by $11.20 to $1,873.90 per ounce on Wednesday due to mass sell-offs of the precious metal in response to positive news of Pfizer’s Covid-19 vaccine.
The Hong Kong gold price meanwhile dropped by HK$120 to $17,290 (Bt67,680) per tael, the Chinese Gold and Silver Exchange Society reported.