Gold opens stronger in Thailand despite strong US data prompting sell-offs
The price of gold in Thailand rose by THB100 per baht weight in morning trade on Friday amid mass sell-offs of the precious metal after the US revealed strong economic data. The rise in price was comparable to the opening trade on Thursday.
According to the Gold Traders Association report at 9.26am, the buying price of a gold bar was THB26,500 per baht weight and selling price THB26,600, while gold ornaments were priced at THB26,029.72 and THB27,100, respectively.
At close on Thursday, the buying price of a gold bar was THB26,400 per baht weight and selling price THB26,500, while gold ornaments were THB25,923.60 and THB27,000, respectively.
Spot gold price on Friday was US$1,788 (THB56,215) per ounce compared to Thursday when it fell by $11.1 to $1,782 per ounce.
Hong Kong gold price on Friday fell by HK$70 to $16,510 (THB66,886) per tael, the Chinese Gold and Silver Exchange Society reported.
