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Gold price dives in opening trade


The price of gold slumped by Bt300 per baht weight in morning trade on Wednesday, the Gold Traders Association reported.

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As of 9.29am, the buying price of a gold bar was Bt25,400 per baht weight and selling price Bt25,500, while gold ornaments cost Bt24,938.20 and Bt26,000, respectively.

At close on Tuesday, the buying price of a gold bar was Bt25,700 per baht weight and selling price Bt25,800, while gold ornaments cost Bt25,241.40 and Bt26,300, respectively.

The spot gold price moved to US$1,793 (Bt53,757) per ounce after falling by $24.20 to $1,799 on Tuesday due to a rising US Treasury yield and a strengthening dollar. Also, gold was pressured by the rise in US manufacturing data in seven months.

The Hong Kong gold price meanwhile dropped by HK$290 to $16,540 (Bt63,963) per tael, the Chinese Gold and Silver Exchange Society reported.

Published : February 17, 2021

By : The Nation