Weakening dollar, falling US bond yield boost gold price
The price of gold surged by Bt150 per baht weight in morning trade on Friday, the Gold Traders Association reported.
As of 9.30am, the buying price of a gold bar was Bt26,000 per baht weight and selling price Bt26,100, while gold ornaments were priced at Bt25,529.44 and Bt26,600, respectively.
At close on Thursday, the buying price of a gold bar was Bt25,850 per baht weight and selling price Bt25,950, while gold ornaments were Bt25,377.84 and Bt26,450, respectively.
Spot gold price on Thursday surged by $16.6 to $1,758.2 (Bt55,261) per ounce, the highest in a month and a half, thanks to the weakening dollar and falling US bond yield after the US Federal Reserve signalled it would maintain interest rate at a low level.
Hong Kong gold price rose by HK$80 to $16,280 (Bt65,780) per tael, the Chinese Gold and Silver Exchange Society reported.
