Rising US bond yield and investors mass sell-offs takes glitter off gold
The price of gold dropped by THB250 per baht weight in morning trade on Tuesday, the Gold Traders Association reported. As of 9.28am the buying price of a gold bar was THB26,050 per baht weight and selling price THB26,150, while gold ornaments were THB25,574.92 and THB26,650, respectively.
At close on Monday, the buying price of a gold bar was THB26,300 per baht weight and selling price THB26,400, while gold ornaments were THB25,832.64 and THB26,900, respectively.
Spot gold price on Tuesday was US$1,770 (THB55,263) per ounce compared to Monday when it dropped by $9.6 to $1,770.6 per ounce, due to the rise in US bond yield and mass sell-offs of precious metal after its price had risen continuously.
Hong Kong gold price on Tuesday dropped by HK$140 to $16,380 (THB65,850) per tael, the Chinese Gold and Silver Exchange Society reported.
