Gold price falls on strengthening dollar
The price of gold dropped by Bt100 per baht weight in morning trade today (September 2), the Gold Traders Association reported.
As of 9.28am, the buying price of a gold bar was Bt28,950 per baht weight and selling price Bt29,050, while gold ornaments cost Bt28,425 and Bt29,550, respectively.
At close yesterday, the buying price of a gold bar was Bt29,050 per baht weight and selling price Bt29,150, while gold ornaments cost Bt28,531.12 and Bt29,650, respectively.
The Comex (Commodity Exchange) gold price to be delivered in December rose by 30 cents, or 0.02 per cent, closing at US$1,978.90 (Bt61,849) per ounce yesterday, the highest in two weeks since August 18 this year.
The gold price rose slightly due to a strengthening dollar. However, analysts expected the price to rise further from the US Federal Reserve’s policy to maintain a low interest rate.
