Gold down amid strong US economic data
The price of gold in Thailand dropped by THB100 per baht weight in morning trade on Wednesday due to mass sell-offs of the precious metal in response to strong US economic data.
A Gold Traders Association report at 9.27am showed the buying price of a gold bar at THB27,900 per baht weight and selling price at THB28,000, while gold ornaments cost THB27,394.12 and THB28,500, respectively.
At close on Tuesday, the buying price of a gold bar was THB28,000 per baht weight and selling price THB28,100, while gold ornaments cost THB27,500.24 and THB28,600, respectively.
The spot gold price on Wednesday was US$1,899 (THB59,187) per ounce compared to the price on Tuesday, when it dropped slightly, by 30 cents to $1,905 per ounce.
The Hong Kong gold price on Wednesday fell by HK$110 to $17,570 (THB70,586) per tael, the Chinese Gold and Silver Exchange Society reported.
