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Gold price drops amid strong US economic data


The price of gold fell by Bt50 per baht weight in morning trade on Thursday, the Gold Traders Association reported.

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As of 9.30am, the buying price of a gold bar was Bt25,250 per baht weight and selling price Bt25,350, while gold ornaments cost Bt24,801.76 and Bt25,850, respectively.

At close on Wednesday, the buying price of a gold bar was Bt25,300 per baht weight and selling price Bt25,400, while gold ornaments cost Bt24,847.24 and Bt25,900, respectively.

The spot gold price moved to US$1,782 (Bt53,491) per ounce after falling by $26.20 to $1,772.80 on Wednesday due to a rising US Treasury yield, a strengthening dollar and strong US economic data. The price had fallen for four consecutive days.

The Hong Kong gold price meanwhile dropped by HK$70 to $16,450 (Bt63,690) per tael, the Chinese Gold and Silver Exchange Society reported.

Published : February 18, 2021

By : The Nation