Gold price rises on strengthening baht
The price of gold rose by Bt50 per baht weight as the baht strengthened in morning trade today (May 11), the Gold Traders Association reported.
As of 9.27am, 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 Saturday (May 9) the buying price of a gold bar was Bt25,750 per baht weight and selling price Bt25,950, while gold ornaments were priced at Bt25,286.88 and Bt26,450, respectively.
The Gold Spot Index price this morning moved to around US$1,709 per ounce after the price dropped by $11.9 to $1,713.90 (Bt55,090) per ounce at close on Friday (May 8).
Investors were selling gold after the US index rose as the Department of Labour revealed that non-farms payrolls in April were lower than expected.
Meanwhile, the Hong Kong gold price dropped by HK$110 to HK$15,770 (Bt65,385) per tael.
