Gold static in morning trade with eye on US inflation
The price of gold in Thailand was unchanged from Tuesday’s close in morning trade on Wednesday due to a rise in the US bond yield. The market is keeping an eye on US inflation in the hope of predicting the Federal Reserve’s move on monetary policy.
A Gold Traders Association report at 9.27am showed the buying price of a gold bar at THB26,950 per baht weight and selling price at THB27,050, while gold ornaments were priced at THB26,469.36 and THB27,550, respectively.
The price had risen by THB50 per baht weight compared to the opening trade on Tuesday.
The spot gold price on Wednesday was US$1,836 (THB57,321) per ounce compared to the price on Tuesday, when it dropped by $1.50 to $1,836.10 per ounce.
The Hong Kong gold price on Wednesday dropped by HK$10 to $16,980 (THB68,261) per tael, the Chinese Gold and Silver Exchange Society reported.
