Gold price flat amid mass sell-offs for profit, strong dollar
The price of gold was unchanged from Wednesday’s close in morning trade on Thursday, the Gold Traders Association reported.
As of 9.29am, the buying price of a gold bar was Bt25,700 per baht weight and selling price Bt25,800, while gold ornaments cost Bt25,241.40 and Bt26,300, respectively.
The price had risen by Bt50 per baht weight compared to the opening trade on Wednesday.
The spot gold price on Wednesday dropped by $1.40 to $1,741.60 (Bt54,771) per ounce due to mass sell-offs of the precious metal for profit after its price rose for four successive days.
Besides, the strong dollar also pressured the gold price.
The Hong Kong gold price rose by HK$10 to $16,130 (Bt65,169) per tael, the Chinese Gold and Silver Exchange Society reported.