Thai gold slides as spot price hits three-week low on strengthening dollar
The price of gold dropped by Bt200 per baht weight in morning trade on Tuesday, the Thai Gold Traders Association reported.
As of 9.29am, the buying price of a gold bar was Bt25,200 per baht weight and selling price Bt25,300, while gold ornaments were priced at Bt24,741.12 and Bt25,800, respectively.
At close on Monday, the buying price of a gold bar was Bt25,400 per baht weight and selling price Bt25,500, while gold ornaments were Bt24,938.20 and Bt26,000, respectively.
Spot gold price dropped to US$1,710 (Bt53,383) per ounce on Tuesday after falling by $20.1 to $1,714.6 on Monday, the lowest in three weeks, due to strengthening dollar.
Meanwhile, the market is keeping an eye on US President Joe Biden's announcement on the $3-trillion infrastructure plan on Wednesday.
Hong Kong gold price dropped by HK$120 to $15,880 (Bt63,779) per tael, the Chinese Gold and Silver Exchange Society reported.
