Gold price hits new high on hopes of $1-trillion US stimulus package
The price of gold rose by Bt400 per baht weight in morning trade today (August 5), the Gold Traders Association reported.
As of 9.25am, the buying price of a gold bar was Bt29,350 per baht weight and selling price Bt29,450, while gold ornaments cost Bt28,819.16 and Bt29,950, respectively.
At close on Tuesday, the buying price of a gold bar was Bt28,950 per baht weight and selling price Bt29,050, while gold ornaments cost Bt28,425 and Bt29,550, respectively.
The Comex (Commodity Exchange) gold price to be delivered in December rose by US$34.7, or 1.75 per cent, to $2,021 (Bt62,684.07) per ounce, a new high at yesterday's close.
The gold price rose more than $2,000 per ounce on hopes of a $1-trillion US economic stimulus package. Meanwhile, the decline in the US bond yield and a weakening dollar also boosted the gold price.
