Gold price up on weakening dollar, US economic stimulus progress
The price of gold rose by Bt100 per baht weight in morning trade on Wednesday, the Gold Traders Association reported.
As of 9.28am, the buying price of a gold bar was Bt28,200 per baht weight and selling price Bt28,300, while gold ornaments cost Bt27,697.32 and Bt28,800, respectively.
At close on Tuesday, the buying price of a gold bar was Bt28,100 per baht weight and selling price Bt28,200, while gold ornaments cost Bt27,591.20 and Bt28,700, respectively.
The spot gold price moved to US$1,916 (Bt59,822) per ounce in the morning after the price rose by $3.70 to $1,915.40 per ounce at close on Tuesday, thanks to the weakening dollar and progress in discussions on a fresh dose of US economic stimulus measures.
The Hong Kong gold price rose by HK$130 to $17,700 (Bt71,307) per tael this morning, the Chinese Gold and Silver Exchange Society reported.
