Strengthening dollar drags gold down
The price of gold dropped by Bt50 per baht weight in morning trade on Friday (June 19), the Gold Traders Association reported.
As of 9.30am, buying price of a gold bar was Bt25,300 per baht weight and selling price Bt25,400, while gold ornaments were priced at Bt24,847.24 and Bt25,900, respectively.
At close on Thursday (June 18), buying price of a gold bar was Bt25,350 per baht weight and selling price Bt25,450, while gold ornaments were priced at Bt24,892.72 and Bt25,950, respectively.
The Gold Spot Index price on Friday morning moved to around US$1,726 (Bt53,538) per ounce after the price dropped by $4.5 to $1,731.1 per ounce at yesterday’s close due to the strengthening dollar.
Investors continued to buy gold after the US revealed that the number of Americans claiming jobless benefits this week was higher than expected and there was uncertainty about a second wave of Covid-19 cases.
Gold in Hong Kong opened at HK$15,920 (Bt63,717) per tael on Friday morning.
