Gold market bearish ahead of US Fed meeting
The price of gold in Thailand dropped by THB50 per baht weight in morning trade on Tuesday as the global market is keeping an eye on the US Federal Reserve meeting on April 27-28 and US first-quarter gross domestic product data.
The Thai Gold Traders Association report at 9.29am showed buying price of a gold bar at THB26,350 per baht weight and selling price at THB26,450, while gold ornaments were priced at THB25,878.12 and THB26,950, respectively.
At close on Monday, 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 Tuesday was US$1,775 (THB55,853) per ounce compared to Monday when it rose by $2.3 to $1,780.1 per ounce.
Hong Kong gold price on Tuesday rose by HK$10 to $16,490 (THB66,863) per tael, the Chinese Gold and Silver Exchange Society reported.
