Gold price falls for second consecutive day
The price of gold dropped by Bt150 per baht weight in morning trade on Wednesday, the Gold Traders Association reported. The price has now dropped sharply for two consecutive days.
As of 9.22am, the buying price of a gold bar was Bt24,900 per baht weight and selling price Bt25,000 while gold ornaments cost Bt24,453.08 and Bt25,500, respectively.
At close on Tuesday, the buying price of a gold bar was Bt25,050 per baht weight and selling price Bt25,150 while gold ornaments cost Bt24,604.68 and Bt25,650, respectively.
The spot gold price dropped to US$1,682 (Bt52,784) per ounce on Wednesday after falling by $28.60 to $1,686 on Tuesday due to a rising US bond yield and strengthening dollar.
The Hong Kong gold price dropped by HK$130 to $15,630 (Bt63,085) per tael, the Chinese Gold and Silver Exchange Society reported.