Gold price rebounds after dropping on Tuesday
The price of gold rose by Bt100 per baht weight in morning trade on Wednesday, the Gold Traders Association reported.
As of 9.29am, the buying price of a gold bar was Bt24,800 per baht weight and selling price Bt24,900 while gold ornaments cost Bt24,346.96 and Bt25,400, respectively.
At close on Tuesday, the buying price of a gold bar was Bt24,700 per baht weight and selling price Bt24,800 while gold ornaments cost Bt24,256 and Bt25,300, respectively.
The spot gold price on Wednesday moved to US$1,733 (Bt52,500) per ounce after rising by $10.60 to $1,733.60 on Tuesday, thanks to mass buy-ups of the precious metal after its price fell to the lowest level in more than eight months. The gold price also gained positive sentiment from a decrease in the US Treasury yield.
The Hong Kong gold price meanwhile rose by HK$160 to $16,050 (Bt62,675) per tael, the Chinese Gold and Silver Exchange Society reported.
