Gold price drops in Thailand, HK despite surge in world market due to weakening dollar
The price of gold in Thailand dropped by Bt50 per baht weight in morning trade on Tuesday after rising by Bt100 per baht weight at close on Monday, the Gold Traders Association reported.
As of 9.32am, the buying price of a gold bar was Bt26,900 per baht weight and selling price Bt27,000, while gold ornaments were priced at Bt26,408.72 and Bt27,500, respectively.
At close on Monday, the buying price of a gold bar was Bt26,950 per baht weight and selling price Bt27,050, while gold ornaments were Bt26,469.36 and Bt27,550, respectively.
Spot gold price moved to US$1,890 (Bt57,038) per ounce in the morning after rising by US$1.6 to $1,887.8 per ounce at close on Monday from the weakening dollar and uncertainty over the Covid-19 outbreak in US and Europe, resulting in mass buy-ups of safe-haven assets.
Hong Kong gold price dropped by HK$60 to $17,450 (Bt67,924) per tael on Tuesday morning, the Chinese Gold and Silver Exchange Society reported.
