Tuesday, June 22, 2021

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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.

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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.

Published : April 09, 2021

By : The Nation