Strengthening dollar pulls gold price down
The price of gold dropped by Bt100 per baht weight in morning trade on Saturday (September 26), the Gold Traders Association reported.
At 9.06am, the buying price of a gold bar was Bt27,750 per baht weight and selling price Bt27,850 while gold ornaments were priced at Bt27,257.68 and Bt28,350, respectively.
At close on Friday, the buying price of a gold bar was Bt27,850 per baht weight and selling price Bt27,950 while gold ornaments were Bt27,348.64 and Bt28,450, respectively.
Comex (Commodity Exchange) gold price to be delivered in December dropped by US$10.6, or 0.56 per cent, closing at $1,866.3 (Bt58,999.64) per ounce on Friday.
Gold closed in negative territory due to the strengthening of the dollar, which made the metal price high for investors holding other currencies.
