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Gold advances in opening trade

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The price of gold rose by THB50 in morning trade on Tuesday.

AGold Traders Association report at 9.26am said the buying price of a gold bar was THB28,200 per baht weight and selling price THB28,300, while gold ornaments cost THB27,697.32 and THB28,800, respectively.

At close on Monday, the buying price of a gold bar was THB28,150 per baht weight and selling price THB28,250, while gold ornaments cost THB27,636.68 and THB28,750, respectively.

The spot gold price on Tuesday morning was moving around US$1,802 (THB59,714) per ounce after Comex gold rose sharply, by $22.30 to $1,806.30 per ounce at close on Monday, due to support from depreciation of the US dollar as well as the belief that the current Covid-19 situation may cause the Federal Reserve to delay tapering of its quantitative easing programme.

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The Hong Kong gold price meanwhile peaked by HK$170 to $16,750 (THB71,222) per tael, the Chinese Gold and Silver Exchange Society reported.

Published : August 24, 2021

By : The Nation