Profit-taking reins in gold after climbing for nine consecutive day
The price of gold was unchanged in morning trade on Friday (July 31), the Gold Traders Association reported.
As of 9.29am, the buying price of a gold bar was Bt28,900 per baht weight and selling price Bt29,000, while gold ornaments cost Bt28,379.52 and Bt29,500, respectively.
The Comex (Commodity Exchange) gold price to be delivered in December dropped by US$9.9, or 0.5 per cent, to $1,966.8 (Bt62,348.80) per ounce at yesterday's close.
Gold closed at negative as investors sold the metal to take profit after the price rose for nine consecutive days. Meanwhile, investors responded to the US Federal Reserve’s move to maintain the interest rate and a promise that it would issue measures to help economic recovery amid the Covid-19 crisis.
The Chinese Gold and Silver Exchange Society said that the Hong Kong gold price rose by HK$70, opening at $18,120 (Bt72,984.61) per tael this morning.
