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.
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.
