Strengthening dollar pulls gold price down
The price of gold dropped by Bt100 per baht weight in morning trade on Thursday (May 7), the Gold Traders Association reported.
As of 9.28am, the buying price of a gold bar was Bt25,800 per baht weight and selling price Bt26,000, while gold ornaments cost Bt25,332.36 and Bt26,500, respectively.
At close on Wednesday (May 6), the buying price of a gold bar was Bt25,900 per baht weight and selling price Bt26,100, while gold ornaments were priced at Bt25,438.48 and Bt26,600, respectively.
The Gold Spot Index price this morning moved to around US$1,692 per ounce after the price dropped by $22.1 to $1,788.50 per ounce at close on Wednesday.
Gold price is still under pressure from the strengthening dollar, while investors were selling gold after there was a news report that many US states had resumed economic activities.
Meanwhile, the Hong Kong gold price dropped by HK$100 (Bt418) to $15,640 per tael.
