Gold slumps further as dollar strengthens
The price of gold dropped by Bt100 per baht weight in morning trade on Monday, the Gold Traders Association reported.
As of 9.21am, the buying price of a gold bar was Bt28,250 per baht weight and selling price Bt28,350 while gold ornaments were priced at Bt27,742.80 and Bt28,850, respectively.
At close on Saturday, the buying price of a gold bar was Bt28,350 per baht weight and selling price Bt28,450 while gold ornaments were Bt27,833.76 and Bt28,950, respectively.
The global market price moved to US$1,899 (Bt59,794.92) per ounce on Monday morning after the price dropped by $8.7 to $1,907.8 per ounce at Friday's close.
Gold price was pressured by the strengthening of the dollar, which made the price high for investors holding other currencies.
Hong Kong gold price opened at HK$17,570 (Bt71,378.66) per tael on Monday morning, the Chinese Gold and Silver Exchange Society reported.
