The Gold Traders Association announced that Thai gold experienced fluctuations on May 20, with adjustments made 16 times, resulting in a total increase of 400 baht per gold baht since Saturday. As of 5.19 PM, the price for gold bars was 41,500.00 baht per gold baht for buying and 41,600.00 baht per gold baht for selling. For gold ornaments, the buying price was 40,750.08 baht per gold baht and the selling price was 42,100.00 baht per gold baht.
Gold price has reached a new all-time high of 2,449 USD per ounce on May 20. This increase is primarily supported by the weakening of the US dollar and a decrease in US bond yields. Investors have become more optimistic about the Federal Reserve’s interest rate policies. Additionally, the situation has been influenced by Iran’s confirmation of the deaths of President Ebrahim Raisi and Foreign Minister Hossein Amir-Abdollahian in a helicopter crash. This incident may impact the situation in the Middle East, leading investors to purchase more gold as a safe-haven asset, thus further driving up the price of gold.
