Thailand gold prices take a slight tumble
Gold prices in Thailand saw a slight decrease at the start of the week. According to the latest figures from the Gold Traders Association (GTA), the price of gold jewellery is now set at 34,550 baht per baht weight as of Monday, representing a 50 baht drop from the previous day’s close.
The domestic gold market experienced a minor adjustment today, with gold bar buying prices at 33,950 baht per baht-weight and selling prices at 34,050 baht.
For gold jewellery, which is usually 96.5% pure, the buying price was listed at 33,336.84 baht per baht-weight, while the selling price remained steady at 34,550 baht. These figures were reported at 9.04am, reflecting the first announcement of the day by the association.
Gold bars and gold jewellery prices on today:
– Gold bars:
– Buying price: 33,950 baht per baht-weight
– Selling price: 34,050 baht per baht-weight
– Gold jewellery:
– Buying price: 33,336.84 baht per baht-weight
– Selling price: 34,550 baht per baht-weight
In the international market, the Gold Spot price stood at US$2,022.00 per ounce. Investors and the public need to keep track of these figures, as gold prices are a crucial indicator of economic stability and investor sentiment. The slight drop in the local gold prices, aligning with global trends, offers a snapshot of the current economic environment, which can be influenced by a multitude of factors including currency fluctuations, geopolitical events, and market demand.
Gold, traditionally a safe-haven asset, often sees price movements in response to international economic news. As such, both individual and institutional investors closely watch these updates to make informed decisions about buying and selling the precious metal. The GTA provides regular updates on gold prices, which are essential for those involved in the gold trade to stay informed of the latest market dynamics.
This minor adjustment in gold prices might hint at market corrections or anticipations of future economic conditions. For those looking to invest in gold, these daily price announcements serve as a critical tool for timing their transactions to optimize potential gains or minimize losses, reported KhaoSod.
