Gold prices surged again on the morning of April 6, climbing by 450 baht as gold bars broke the 40,000 baht mark, driven by safe-haven buying amid escalating tensions in the Middle East.
The Gold Traders Association reported that selling prices for gold bars reached 40,250 baht per baht weight, with buying prices at 40,150 baht. Meanwhile, the selling price for gold ornaments rose to 40,750 baht per baht weight, with buying prices at 39,431.16 baht. This unprecedented surge reflects a significant increase in the price of Asian gold, rising by 2,328 US dollars per ounce, with the current rate of 36.56 baht per US dollar.
In addition, the New York gold futures market closed at a new all-time high on Friday (April 5), driven by safe-haven buying amidst mounting tensions in the Middle East following Iran’s confirmation of retaliatory measures against Israel’s recent attack on an Iranian consulate in Syria. COMEX gold futures for June delivery surged by 36.90 dollars, or +1.60%, closing at 2,345.40 dollars per ounce.
