Gold stays firm despite sell-offs triggered by higher US bond yield
The price of gold in morning trade on Friday was unchanged from Thursdays close due to higher US bond yield and strong US economic data, triggering mass sell-offs of the precious metal.
The Gold Traders Association report at 9.23am showed buying price of a gold bar at THB27,950 per baht weight and selling price at THB28,050, while gold ornaments were priced at THB27,439.60 and THB28,550, respectively.
Spot gold on Friday was US$1,894 (THB59,338) per ounce compared to Thursday when it had dropped by $5.3 to $1,898.5 per ounce.
Hong Kong gold price on Friday dropped by HK$30 to $17,550 (THB70,861) per tael, the Chinese Gold and Silver Exchange Society reported.