Gold drops in Thailand despite gains in US market
The price of gold dropped by Bt100 per baht weight in morning trade on Saturday (September 19), the Gold Traders Association reported.
As of 9.10am, the buying price of a gold bar was Bt28,550 per baht weight and selling price Bt28,650, while gold ornaments were priced at Bt28,030.84 and Bt29,150, respectively.
At close on Friday, the buying price of a gold bar was Bt28,650 per baht weight and selling price Bt28,750, while gold ornaments were priced at Bt28,136.96 and Bt29,250, respectively.
Comex (Commodity Exchange) gold to be delivered in December rose by US$12.2, or 0.63 per cent, closing at $1,962.1 (Bt60,978.25) per ounce on Friday.
Gold price closed in positive territory on Friday as investors were buying gold as a safe-haven asset amid uncertainty following the economic recovery, while the weakening dollar also boosted the precious metal's price.
