Gold price falls by THB100 ahead of US Fed meeting
The price of gold in Thailand dropped by THB100 per baht weight in morning trade on Wednesday as investors delayed trading to follow the outcome of a key Federal Reserve meeting and the US first-quarter gross domestic product.
A Gold Traders Association report at 9.22am showed the buying price of a gold bar was THB26,250 per baht weight and selling price THB26,350, while gold ornaments were priced at THB25,772 and THB26,850, respectively.
At close on Tuesday, the buying price of a gold bar was THB26,350 per baht weight and selling price THB26,450, while gold ornaments cost THB25,878.12 and THB26,950, respectively.
The spot gold price on Wednesday touched US$1,772 (THB55,656) per ounce compared to Tuesday, when it dropped by $1.30 to $1,778.80 per ounce.
The Hong Kong gold price on Wednesday dropped by HK$60 to $16,410 (THB66,398) per tael, the Chinese Gold and Silver Exchange Society reported.
