The price of Thai gold in just 1 year has increased by 10,400 baht per baht. Today, it has made an all-time high again. The Gold Traders Association reported today that the price has changed 11 times, with a total increase of 400 baht per baht of gold from yesterday. The closing price of gold bars was 44,400 baht per baht, while gold ornaments were 44,900 baht per baht. During the day, the price of gold set a record high with the selling price of gold bars at 44,550 baht per baht, while gold ornaments were 45,050 baht per baht. If we go back 1 year, the price rose to 10,400 baht per baht, based on the price of SPOT gold, which rose from 2,003 US dollars per ounce to 2,786 dollars per ounce. The exchange rate appreciated from 36 baht per dollar to 33.79 baht per dollar. Analysts assess that the price of gold has a chance to move up again, supported by buying of gold as a safe asset amidst uncertainty of the results of the US presidential election that will take place on November 5th, the tense situation in the Middle East, and the expectation that the US Federal Reserve (Fed) will continue to reduce interest rates at the meeting in November. Source: Thai News Agency
