Gold price falls after surging a day earlier
The price of gold dropped by Bt100 per baht weight in morning trade on Wednesday, the Gold Traders Association reported.
As of 9.25am, the buying price of a gold bar was Bt25,950 per baht weight and selling price Bt26,050 while gold ornaments cost Bt25,483.96 and Bt26,550, respectively.
At close on Monday, 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.
The spot gold price moved to US$1,839 (Bt55,017) per ounce in the morning after rising by $3.30 to $1,837.50 per ounce on Tuesday on hopes of a rollout of fresh US economic stimulus measures and the weakening dollar.
The Hong Kong gold price meanwhile dropped by HK$40 to $16,980 (Bt65,526) per tael, the Chinese Gold and Silver Exchange Society reported.