Gold price drops in opening trade
The price of gold dropped by Bt100 per baht weight in morning trade on Thursday, the Gold Traders Association reported.
As of 9.26am, the buying price of a gold bar was Bt25,500 per baht weight and selling price Bt25,600, while gold ornaments cost Bt25,044.32 and Bt26,100, respectively.
At close on Wednesday, the buying price of a gold bar was Bt25,600 per baht weight and selling price Bt25,700, while gold ornaments cost Bt25,135.28 and Bt26,200, respectively.
The spot gold price moved to US$1,800 (Bt54,092) per ounce after falling by $8 to $1,797.90 on Wednesday due to mass sell-offs of the precious metal in response to Federal Reserve chairman Jerome Powell’s positive view on the US economy.
The Hong Kong gold price dropped by HK$80 to $16,650 (Bt64,518) per tael, the Chinese Gold and Silver Exchange Society reported.
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