Gold price drops in opening trade

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.