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.
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.