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Gold price slides after rising the previous day (nationthailand.com)

Gold price slides after rising the previous day

EconDec 23. 2020

By The Nation

The price of gold dropped by Bt150 per baht weight in morning trade on Wednesday after rising by Bt100 per baht weight at close on Tuesday, the Gold Traders Association reported.

As of 9.26am, the buying price of a gold bar was Bt26,550 per baht weight and selling price Bt26,650, while gold ornaments cost Bt26,075.20 and Bt27,150, respectively.

At close on Tuesday, the buying price of a gold bar was Bt26,700 per baht weight and selling price Bt26,800, while gold ornaments cost Bt26,226.80 and Bt27,300, respectively.

The spot gold price moved to US$1,863 (Bt56,295) per ounce in the morning, while the Comex (Commodity Exchange) gold price to be delivered in February next year dropped by $12.50 to $1,870.30 per ounce on Tuesday due to a dollar appreciation and the historic rise in the US gross domestic product, resulting in mass sell-offs of safe-haven assets.

The Hong Kong gold price meanwhile dropped by HK$90 to $17,210 (Bt67,082) per tael, the Chinese Gold and Silver Exchange Society reported.