Gold up after Yellens interest-rate clarification
The price of gold in Thailand rose by THB150 per baht weight in morning trade on Thursday, thanks to US Treasury Secretary Janet Yellen’s clarification on Wednesday that there was no need for the Federal Reserve to raise the interest rate.
The gold market also gained positive sentiment from weak US economic data.
A Gold Traders Association report at 9.27am showed the buying price of a gold bar at THB26,250 per baht weight and selling price at THB26,350, while gold ornaments were priced at THB25,772 and THB26,850, respectively.
At close on Wednesday, the buying price of a gold bar was THB26,100 per baht weight and selling price THB26,200, while gold ornaments cost THB25,635.56 and THB26,700, respectively.
The spot gold price on Thursday was US$1,787 (THB55,754) per ounce compared to the price on Wednesday, when it rose by $8.30 to $1,784.30 per ounce.
The Hong Kong gold price on Thursday increased by HK$70 to $16,530 (THB66,377) per tael, the Chinese Gold and Silver Exchange Society reported.
