Thai Gold Prices Surge 750 Baht After Iran-Israel Tensions Escalate
The gold price in Thailand significantly increased by 750 baht per baht weight on Tuesday due to Middle East tensions following Iran's missile strike on Israel.
The buying price of a gold bar was 41,500 baht and the selling price was 41,600 baht, while gold ornaments had a buying price of 40,750.08 baht and a selling price of 42,100 baht.
The previous day's gold bar buying price was 40,850 baht, and the selling price was 40,950, with gold ornaments trading at 40,113.36 and 41,450.
The text describes how Iran's attack on Israel's embassy in Syria led to a gold rush due to increased fears of a wider conflict in the Middle East.
The attack involved missiles and drones, with Israel intercepting most of them.
However, the remaining unintercepted attacks sparked concerns of a potential escalation, causing people to buy gold as a safe haven asset.