Gold moves up on strong US economic data, weakening dollar
The price of gold rose by Bt50 per baht weight in morning trade on Monday, the Gold Traders Association reported.
As of 9.25am, the buying price of a gold bar was Bt25,300 per baht weight and selling price Bt25,400, while gold ornaments were priced at Bt24,847.24 and Bt25,900, respectively.
At close on Saturday, 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.
Spot gold price moved to US$1,786 (Bt53,592) per ounce after rising by $2.4 to $1,777.4 on Friday, thanks to the weakening dollar, strong US economic data and hopes of rollout of a US economic stimulus package.
Hong Kong gold price rose by HK$130 to $16,510 (Bt63,898) per tael, the Chinese Gold and Silver Exchange Society reported.