Gold loses glitter due to strong dollar, delay in US economic stimulus measures
The price of gold dropped by Bt200 per baht weight in morning trade on Tuesday (September 22), the Gold Traders Association reported.
As of 9.30am, the buying price of a gold bar was Bt28,300 per baht weight and selling price Bt28,400, while gold ornaments were priced at Bt27,788.28 and Bt28,900, respectively.
At close on Monday, the buying price of a gold bar was Bt28,500 per baht weight and selling price Bt28,600, while gold ornaments were priced at Bt27,985.36 and Bt29,100, respectively.
The Comex (Commodity Exchange) gold price to be delivered in December dropped by US$51.5, or 2.62 per cent, closing at $1,910.6 (Bt59,948.49) per ounce on Monday.
The price of gold dropped sharply on Monday due to the strengthening dollar and uncertainty over the delay in the rollout of US economic stimulus measures.
Hong Kong gold price dropped by HK$230 after opening at $17,730 (Bt71,784.57) per tael Tuesday morning, the Chinese Gold and Silver Exchange Society reported.
