Weakening dollar, worries over US economic stimulus rollout push gold up

[rooster59]

Weakening dollar, worries over US economic stimulus rollout push gold up

By The Nation

 

 

The price of gold rose by Bt150 per baht weight in morning trade on Saturday, the Gold Traders Association reported.

 

 

As of 9.10am, the buying price of a gold bar was Bt28,200 per baht weight and selling price Bt28,300 while gold ornaments were priced at Bt27,697.32 and Bt28,800, respectively.

 

At close on Friday, the buying price of a gold bar was Bt28,050 per baht weight and selling price Bt28,150 while gold ornaments were Bt27,545.72 and Bt28,650, respectively.

 

The Comex (Commodity Exchange) gold price to be delivered in December rose by US$31.1, or 1.64 per cent, closing at $1,926.2 (Bt59,676) per ounce on Friday. The metal price rose by 1 per cent this week.

 

Gold price closed in positive territory from the weakening dollar and uncertainty over the rollout of US economic stimulus measures, resulting in mass buy-ups of the metal as a safe-haven asset.

 

Source: https://www.nationthailand.com/business/30395977

 

-- © Copyright The Nation Thailand 2020-10-10

 

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[Isaan sailor]

uSD/Baht down 2% in two weeks.  Amazing Thailand.

[RocketDog]

19 hours ago, Isaan sailor said:

uSD/Baht down 2% in two weeks.  Amazing Thailand.

I'm staging an exit from the USD. 

I'm converting to SGD and baht every time the baht value drops. 

 

The days of King Dollar are waning. I can't do much about the real estate I have in America but fortunately there is currently a housing boom that outstrips the failing dollar. I'll have to liquidate sometime in the next one to two years before the huge federal deficits manifest as inflation.