Gold price slumps further amid strong dollar
The price of gold dropped by Bt50 per baht weight in morning trade on Thursday, the Gold Traders Association reported. The gold price was down for the second successive day, after dropping by Bt150 per baht weight on Wednesday.
As of 9.22am, the buying price of a gold bar was Bt26,050 per baht weight and selling price Bt26,150, while gold ornaments cost Bt25,574.92 and Bt26,650, respectively.
At close on Wednesday, the buying price of a gold bar was Bt26,100 per baht weight and selling price Bt26,200, while gold ornaments cost Bt25,635.56 and Bt26,700, respectively.
The spot gold price moved to US$1,838 (Bt55,187) per ounce in the morning, while the Comex (Commodity Exchange) gold price to be delivered in February dropped by $6 to $1,844.90 per ounce on Wednesday due to a strengthening dollar. Also, investors delayed gold purchases to follow a key US Federal Reserve meeting.
The Hong Kong gold price meanwhile dropped by HK$60 to $17,010 (Bt65,885) per tael, the Chinese Gold and Silver Exchange Society reported.