Gold sheds some gains as investors sell precious metal
The price of gold dropped by Bt50 per baht weight in morning trade on Friday, the Gold Traders Association reported.
As of 9.24am, the buying price of a gold bar was Bt26,350 per baht weight and selling price Bt26,450, while gold ornaments were priced at Bt25,878.12 and Bt26,950, respectively.
At close on Thursday, the buying price of a gold bar was Bt26,400 per baht weight and selling price Bt26,500, while gold ornaments were Bt25,923.60 and Bt27,000, respectively.
Spot gold price moved to US$1,864 (Bt55,835) per ounce in the morning, while Comex (Commodity Exchange) gold to be delivered in February dropped by 60 cents to $1,865.9 per ounce on Thursday due to mass sell-offs of the precious metal after its price had hit the highest level in two weeks.
Hong Kong gold price dropped by HK$30 to $17,260 (Bt66,694) per tael, the Chinese Gold and Silver Exchange Society reported.
