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Gold price falls again in opening trade

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The price of gold dropped by THB50 per baht weight in morning trade on Wednesday.

AGold Traders Association report at 9.24am showed the buying price of a gold bar at THB27,300 per baht weight and selling price at THB27,400, while gold ornaments cost THB26,802.88 and THB27,900, respectively.

At close on Tuesday, the buying price of a gold bar was THB27,350 per baht weight and selling price THB27,450, while gold ornaments cost THB26,863.52 and THB27,950, respectively.

The spot gold price on Wednesday morning was moving around US$1,732 (THB57,832) per ounce after Comex gold at close on Tuesday rose by $5.20 to $1,731.70 due to support in gold purchases after the price has been falling heavily. Furthermore, weak US economic data is proving a supporting factor in buying the metal as a safe-haven asset.

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The Hong Kong gold price also dropped by HK$90 to $16,020 (THB68,732) per tael, the Chinese Gold and Silver Exchange Society reported.

Published : August 11, 2021

By : The Nation