Gold price slumps from strengthening dollar, mass sell-offs
The price of gold dropped by Bt500 per baht weight in morning trade today (August 20), the Gold Traders Association reported.
As of 9.27am, the buying price of a gold bar was Bt28,750 per baht weight and selling price Bt 28,850, while gold ornaments cost Bt28,227.92 and Bt29,350, respectively.
At close yesterday, the buying price of a gold bar was Bt29,250 per baht weight and selling price Bt29,350, while gold ornaments cost Bt28,728.20 and Bt29,850, respectively.
The Chinese Gold and Silver Exchange Society reported that the Hong Kong gold price dropped by HK$460, opening at HK$17,940 (Bt72,664.23) per tael this morning.
The Comex (Commodity Exchange) gold price to be delivered in December dropped by US$42.8, or 2.13 per cent, to $1,970.3 (Bt61,848.39) per ounce at yesterday’s close.
The gold price moved into negative territory yesterday due to a strengthening dollar and mass sell-offs of the precious metal.
