Gold prices experience significant rise, says Gold Traders Association

Today witnessed a notable surge in gold prices, as reported by the Gold Traders Association. The buying rates for gold ornaments peaked at 34,473.84 baht (US$ 966) per baht weight, while gold bars were valued at 35,100 baht (US$ 984) per baht weight.

In contrast, selling prices were set at 35,700 baht (US$ 1,001) per baht weight for gold ornaments and 35,200 baht (US$ 987) per baht weight for gold bars. This represents a 400 baht (US$ 11) increase from the previous day’s close, marking the most significant rise this year, according to Bangkok Post.

Buying and Selling Rates

Looking back at yesterday’s figures, buying prices were lower, with gold ornaments priced at 34,079.68 baht (US$ 955) per baht weight and gold bars at 34,700 baht (US$ 973) per baht weight. Simultaneously, selling prices were 35,300 baht (US$ 990) per baht weight for gold ornaments and 34,800 baht (US$ 975) per baht weight for gold bars.

In other news, gold prices in Thailand remained steady on February 27, with no significant change compared to previous closing figures. The Gold Traders Association (GTA) listed the selling price for gold ornaments exceeding the 35,000 baht mark. As per the latest data from the association’s website, recorded at 9:02 am, the selling price for gold ornaments stood at 35,050 baht.

Yesterday’s Comparison: A Look Back

For standard gold bars, which boast a purity of 96.5%, the buying price was announced at 34,450 baht per baht weight, with the selling price set at 34,550 baht. Gold ornaments of the same purity were bought at 33,837.12 baht per baht weight and sold at 35,050 baht. The global market price for gold, or Gold Spot, was recorded at US$2,034.00 per ounce.

To summarize, the buying price for gold bars stands at 34,450 baht per baht weight, with a selling price of 34,550 baht per baht weight. For gold ornaments, the buying price is 33,837.12 baht per baht weight, while the selling price is 35,050 baht per baht weight.