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Gold price sinks further amid hopes of Covid-19 vaccine, smooth US presidential transition
EconNov 25. 2020
By The Nation
The price of gold slumped by another Bt250 per baht weight in morning trade on Wednesday after falling sharply by Bt550 per baht weight at close on Tuesday, the Gold Traders Association reported.
As of 9.28am, the buying price of a gold bar was Bt25,950 per baht weight and selling price Bt26,050, while gold ornaments cost Bt25,483.96 and Bt26,550, respectively.
At close on Tuesday, the buying price of a gold bar was Bt26,200 per baht weight and selling price Bt26,300, while gold ornaments cost Bt25,726.52 and Bt26,800, respectively.
The spot gold price moved to US$1,810 (Bt54,938) per ounce in the morning, while the Comex (Commodity Exchange) gold price to be delivered in December dropped sharply by $33.20 to $1,804.60 per ounce on Tuesday due to mass sell-offs of the safe-haven asset in response to positive news over a Covid-19 vaccine and a hopefully smooth US presidential transition.
The Hong Kong gold price meanwhile dropped by HK$180 to $16,710 (Bt65,431) per tael, the Chinese Gold and Silver Exchange Society reported.
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