Gold prices experience significant rise, says GTA

Today saw a marked increase in gold prices, according to the Gold Traders Association (GTA). The buying prices for gold ornaments reached 34,473.84 baht (US$966) per baht weight, and gold bars were valued at 35,100 baht (US$984) per baht weight.

On the other hand, the selling prices were determined at 35,700 baht (US$1,001) per baht weight for gold ornaments, while gold bars were sold at 35,200 baht (US$987) per baht weight. This indicates that gold prices had soared by 400 baht from the previous day’s close, marking the most considerable rise this year, reported Bangkok Post.

Rewinding yesterday’s close, the buying prices were lower, with gold ornaments at 34,079.68 baht (US$955) per baht weight and gold bars at 34,700 baht (US$973) per baht weight. Simultaneously, the selling prices settled at 35,300 baht (US$990) per baht weight for gold ornaments and 34,800 baht (US$975) per baht weight for gold bars.

In related news, gold prices in Thailand on February 27 remained stable, with no increase or decrease compared to the previous closing figures the GTA listed the selling price for gold ornaments surpassing the 35,000 baht mark. The latest figures from the association’s website, recorded at 9.02am, indicated that the selling price for gold ornaments was 35,050 baht.

For standard gold bars, which are 96.5% pure, the buying price was set at 34,450 baht per baht-weight, with the selling price at 34,550 baht, according to the first announcement of the day. Gold ornaments of the same purity were bought at 33,837.12 baht per baht weight and sold at 35,050 baht. The global market price for gold, or Gold Spot, stood at US$2,034.00 per ounce.

The summary of gold prices, following the first announcement, are as follows: for gold bars, the buying price is 34,450 baht per baht-weight and the selling price is 34,550 baht per baht-weight. For gold ornaments, the buying price is 33,837.12 baht per baht-weight and the selling price is 35,050 baht per baht-weight.