Gold extends slide despite hopes of fresh US stimulus

As of 9.23am, the buying price of a gold bar was Bt26,150 per baht weight and selling price Bt26,250 while gold ornaments cost Bt25,681.04 and Bt26,750, respectively.

At close on Wednesday, the buying price of a gold bar was Bt26,250 per baht weight and selling price Bt26,350 while gold ornaments cost Bt25,772 and Bt26,850, respectively.

The spot gold price moved to US$1,845 (Bt55,403) per ounce in the morning, while the Comex (Commodity Exchange) gold price to be delivered in February rose by $10.70 to $1,854.90 per ounce on Wednesday, thanks to mass buy-ups of safe-haven assets to deal with inflation after the US Consumer Price Index increased in December.

Also, gold gained positive sentiment from hopes of a rollout of fresh US economic stimulus measures.

The Hong Kong gold price meanwhile dropped by HK$70 to $17,090 (Bt66,188) per tael, the Chinese Gold and Silver Exchange Society reported.