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https://www.nationthailand.com/business/40005348

Gold gains in Thai, HK markets as demand up amid US stock market decline

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The price of gold in Thailand rose by THB150 on Friday morning.

AGold Traders Association report at 9.27am said the buying price of a gold bar was THB27,750 per baht weight and selling price THB27,850, while gold ornaments were priced at THB27,257.68 and THB28,350, respectively.

At close on Thursday, the buying price of a gold bar was THB27,600 per baht weight and selling price THB27,700, while gold ornaments were THB27,106.08 and THB28,200, respectively.

Spot gold on Friday morning was moving at around US$1,797 (THB58,720) per ounce after Comex gold rose by $4.20 to $1,795.20 per ounce at close on Thursday, due to support for buying gold as a safe-haven asset after the fall in the US stock market. Meanwhile, the market is keeping an eye on US Federal Reserve chairman Jerome Powell’s announcement on Friday at the Fed annual meeting.

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Hong Kong gold price rose sharply by HK$100 to $16,670 (THB69,890) per tael, the Chinese Gold and Silver Exchange Society reported.

Published : August 27, 2021