Strengthening dollar pulls gold price down
The price of gold dropped by Bt100 per baht weight in morning trade on Saturday (October 3), the Gold Traders Association reported.
As of 9.16am, the buying price of a gold bar was Bt28,350 per baht weight and selling price Bt28,450, while gold ornaments were priced at Bt27,833.76 and Bt28,950, respectively.
At close on Friday, the buying price of a gold bar was Bt28,450 per baht weight and selling price Bt28,550, while gold ornaments were Bt27,939.88 and Bt29,050, respectively.
Comex (Commodity Exchange) gold price to be delivered in December dropped by US$8.7, or 0.45 per cent, closing at $1,907.6 (Bt60,218.79) per ounce on Friday. The metal price rose by 2.2 per cent this week.
Gold price closed in negative territory due to the strengthening dollar, which made the price high for investors holding other currencies.
