Thai, HK gold up despite US stock market surge prompting sell-offs #SootinClaimon.Com

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Thai, HK gold up despite US stock market surge prompting sell-offs

EconMar 23. 2021

By The Nation

The price of gold rose by Bt50 per baht weight in morning trade on Tuesday, the Gold Traders Association reported.

As of 9.26am, the buying price of a gold bar was Bt25,300 per baht weight and selling price Bt25,400, while gold ornaments were priced at Bt24,847.24 and Bt25,900, respectively.

At close on Monday, the buying price of a gold bar was Bt25,250 per baht weight and selling price Bt25,350, while gold ornaments were Bt24,801.76 and Bt25,850, respectively.

Spot gold price dropped to US$1,734 (Bt53,689) per ounce after falling by $3.6 to $1,738.1 on Monday due to mass sell-offs of safe-haven assets after the US stock market surged on mass buy-ups of tech shares.

Meanwhile, uncertainty over Turkey’s economic direction also affected the demand for the precious metal.

Hong Kong gold price rose by HK$60 to $16,080 (Bt64,105) per tael, the Chinese Gold and Silver Exchange Society reported.

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