Gold price flat despite dollar weakening
The price of gold was unchanged in morning trade on Wednesday, the Gold Traders Association reported.
As of 9.26am, the buying price of a gold bar was Bt26,150 per baht weight and selling price Bt26,250 while gold ornaments cost Bt25,681.04 and Bt26,750, respectively.
The spot gold price moved to US$1,848 (Bt55,390) per ounce in the morning, while the Comex (Commodity Exchange) gold price to be delivered in February rose by $10.30 to $1,840.20 per ounce on Tuesday over a weakening dollar.
Meanwhile, gold also gained positive sentiment from incoming Treasury Secretary Janet Yellen’s move to urge Congress to approve a $1.9-trillion economic stimulus package.
The Hong Kong gold price meanwhile dropped by HK$10 to $17,030 (Bt65,854) per tael, the Chinese Gold and Silver Exchange Society reported.
