Thai gold prices dip: Gold Traders Association confirms morning fall
The Gold Traders Association (GTA) announced a decline in gold prices on this morning, with standard gold selling for 33,400 baht per baht weight, reflecting a decrease of 100 baht compared to the closing price last Friday. The latest value of gold bars in Thailand today, October 16, is 32,800 baht per baht weight for buying and 32,900 baht for selling, according to the second announcement of the day.
The GTA also provided information on gold jewellery, with a buying price of 32,215 baht per baht weight and a selling price of 33,400 baht per baht weight for 96.5% gold jewellery, as of 9.54am today. Meanwhile, the global gold price, or Gold Spot, stood at US$1,919 (69,830 baht) per ounce.
In the first announcement of the day, the buying and selling prices for gold bars were 32,850 baht and 32,950 baht per baht weight respectively. The buying and selling prices for gold jewellery were 32,260.48 baht and 33,450 baht per baht weight respectively.
The fluctuating prices in the domestic and global markets are closely watched by investors and traders, as gold is considered a safe asset during times of economic uncertainty. The variations in the prices reflect the changing dynamics of the global economy, influenced by various factors such as geopolitical tensions, inflation trends, and currency fluctuations.
In the first announcement, the buying and selling prices for gold bars were 32,850 baht and 32,950 baht per baht weight respectively. The buying and selling prices for gold jewellery were 32,260.48 baht and 33,450 baht per baht weight respectively.
The second announcement of the day set the buying and selling prices for gold bars at 32,800 baht and 32,900 baht per baht weight respectively. The buying and selling prices for 96.5% gold jewellery were 32,215 baht and 33,400 baht per baht weight respectively.
Investors and traders are advised to keep a close watch on the movement of the pricing, as it can have significant implications for their investment strategies and financial planning, reported Khaosod.
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