Gold price sees big drop amid improving US economic data
The price of gold dropped by Bt150 per baht weight in morning trade on Saturday (September 12), the Gold Traders Association reported.
As of 9.18am, the buying price of a gold bar was Bt28,600 per baht weight and selling price Bt28,700, while gold ornaments were priced at Bt28,091.48 and Bt29,200, respectively.
At close on Friday (September 11), the buying price of a gold bar was Bt28,750 per baht weight and selling price Bt28,850 while gold ornaments were priced at Bt28,227.92 and Bt29,350, respectively.
The Comex (Commodity Exchange) gold price to be delivered in December dropped by US$16.4, or 0.83 per cent, closing at $1,947.9 (Bt60,908.36) per ounce on Friday. Gold price rose by 0.7 per cent this week.
Gold moved to negative territory on Friday, as investors sold the precious metal to take profit, while it was pressured by strong US economic data.
