Gold price shrinks amid rising US bond yield
The price of gold slumped by Bt450 per baht weight in morning trade on Thursday, the Gold Traders Association reported.
As of 9.24am, the buying price of a gold bar was Bt27,100 per baht weight and selling price Bt27,200, while gold ornaments cost Bt26,605.80 and Bt27,700, respectively.
At close on Wednesday, the buying price of a gold bar was Bt27,550 per baht weight and selling price Bt27,650, while gold ornaments cost Bt27,060.60 and Bt28,150, respectively.
The spot gold price moved to US$1,917 (Bt57,390) per ounce in the morning, while the Comex (Commodity Exchange) gold price to be delivered in February dropped by $45.80 to $1,908.60 per ounce on Wednesday due to the over 1 per cent rise in the US ten-year bond yield and mass sell-offs for profit.
The Hong Kong gold price meanwhile dropped sharply by HK$270 to $17,750 (Bt68,541) per tael, the Chinese Gold and Silver Exchange Society reported.
