Gold price remains stable

A Gold Traders Association report at 9.25am said the buying price of a gold bar was THB28,650 per baht weight and selling price THB28,750, while the buying and selling price of gold ornaments is THB28,136.96 and THB29,250, respectively.

The spot gold price on Tuesday morning hovered around US$1,809 (THB60,684) per ounce after Comex gold at close on Monday dropped by $2.9 to $1,808.8 per ounce due to pressure from selling gold as a safe-haven asset after the US stock market surged due to the uplift retail-sales report during the holiday season, coupled with the easing concerns over the risks of Covid-19 Delta variant.

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The Hong Kong gold price, meanwhile, rose by HK$20 to $16,850 (THB72,481) per tael, the Chinese Gold and Silver Exchange Society reported.