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Gold sees slight recovery after Monday’s slump (nationthailand.com)

Gold sees slight recovery after Monday’s slump

EconDec 15. 2020

By The Nation

The price of gold rose by Bt50 per baht weight in morning trade on Tuesday after falling sharply by Bt200 per baht weight at close on Monday, the Gold Traders Association reported.

As of 9.24am, the buying price of a gold bar was Bt26,000 per baht weight and selling price Bt26,100, while gold ornaments were priced at Bt25,529.44 and Bt26,600, respectively.

At close on Monday, the buying price of a gold bar was Bt25,950 per baht weight and selling price Bt26,050, while gold ornaments were Bt25,483.96 and Bt26,550, respectively.

Spot gold price moved to US$1,831 (Bt55,073) per ounce in the morning, while the Comex (Commodity Exchange) gold price to be delivered in February next year dropped by $11.5 to $1,832.1 per ounce on Monday due to mass sell-offs of safe-haven assets amid positive news of a Covid-19 vaccine. Besides, the market is keeping an eye on US Federal Reserve’s monetary policy meeting on Tuesday.

The Hong Kong gold price meanwhile dropped by HK$120 to $16,890 (Bt65,527) per tael, the Chinese Gold and Silver Exchange Society reported.