Gold prices drop, prompting quick action from buyers

Gold prices saw a decline today, prompting those interested to act quickly. Compared to the closing price yesterday, August 13, the price of gold ornaments has dropped. Today, gold ornaments are selling at 41,350 baht per baht weight.

Gold prices today decreased by 100 baht compared to the final prices from yesterday, August 13. According to the latest information from the Gold Traders Association (GTA) website at 9.04am, gold ornaments are selling at 41,350 baht per baht weight.

In the domestic market, gold bullion is currently being bought at 40,750 baht per baht weight and sold at 40,850 baht per baht weight as per the first announcement today. For 96.5% gold ornaments, the buying price is 40,022.40 baht per baht weight, while the selling price is 41,350 baht per baht weight. On the global market, the Gold Spot price stands at $2,464.50 per ounce.

In summary, today’s gold prices, as of August 14, 2024, are as follows:

For gold bullion:

• Buying price is 40,750 baht per baht weight.
• Selling price is 40,850 baht per baht weight.

For 96.5% gold ornaments:

• Buying price is 40,022.40 baht per baht weight.
• Selling price is 41,350 baht per baht weight.

The GTA regularly updates these prices, reflecting fluctuations in the global market. The association’s website is a reliable source for the latest pricing, providing updates multiple times throughout the day to reflect any changes in market conditions.

Gold prices can be influenced by various factors, including changes in the global economic outlook, fluctuations in currency values, and shifts in demand and supply dynamics. For instance, global economic instability or geopolitical tensions often drive investors to seek safe-haven assets like gold, which can increase its price.

In recent times, the global market has seen significant movements, which have been reflected in the domestic gold prices. Investors and consumers alike keep a close watch on these updates to make informed decisions about buying or selling gold.

The GTA plays a crucial role in standardising gold prices within the country, ensuring transparency and fairness in the market. Their updates are essential for anyone involved in the gold trade, from large-scale investors to individual buyers.