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Gold price down in opening trade

Mar 04. 2021
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By The Nation

The price of gold dropped by Bt200 per baht weight in morning trade on Thursday, the Gold Traders Association reported.

As of 9.40am, the buying price of a gold bar was Bt24,550 per baht weight and selling price Bt24,650, while gold ornaments cost Bt24,104.40 and Bt25,150, respectively.

At close on Wednesday, the buying price of a gold bar was Bt24,750 per baht weight and selling price Bt24,850, while gold ornaments cost Bt24,301.48 and Bt25,350, respectively.

The spot gold price on Thursday moved to US$1,714 (Bt52,062) per ounce after falling by $17.80 to $1,715.80 on Wednesday, the lowest in almost nine months, due to a rising US bond yield and a strengthening dollar.

Meanwhile, progress in US Covid-19 vaccinations also pressured the price of the precious metal.

The Hong Kong gold price dropped by HK$120 to $15,860 (Bt62,101) per tael, the Chinese Gold and Silver Exchange Society reported.

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