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Gold slides after spot price hits lowest level in 11 years on Monday


The price of gold dropped by Bt50 per baht weight in morning trade on Tuesday, the Gold Traders Association reported.

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As of 9.29am, the buying price of a gold bar was Bt24,600 per baht weight and selling price Bt24,700, while gold ornaments were priced at Bt24,149.88 and Bt25,200, respectively.

At close on Monday, the buying price of a gold bar was Bt24,650 per baht weight and selling price Bt24,750, while gold ornaments were Bt24,210.52 and Bt25,250, respectively.

Spot gold moved to US$1,688 (Bt52,136) per ounce after falling by $20.5 to $1,678 on Monday, the lowest in 11 years, due to rising US bond yield and strengthening dollar after the US Senate passed President Joe Biden's $1.9-trillion economic relief bill.

Hong Kong gold price dropped by HK$130 to $15,610 (Bt62,074) per tael, the Chinese Gold and Silver Exchange Society reported.

Published : March 09, 2021

By : The Nation