Gold price slides in Thailand as dollar gains on strong US economic show
The price of gold in Thailand slumped by THB350 per baht weight in morning trade on Friday due to the strengthening dollar and strong US economic data, triggering mass sell-offs of the precious metal.
The Gold Traders Association report at 9.25am showed buying price of a gold bar at THB27,500 per baht weight and selling price at THB27,600, while gold ornaments were priced at THB26,999.96 and THB28,100, respectively.
At close on Thursday, the buying price of a gold bar was THB27,850 per baht weight and selling price at THB27,950, while gold ornaments were priced at THB27,348.64 and THB28,450, respectively.
Spot gold on Friday was US$1,863 (THB58,197) per ounce compared to Thursday when it dropped by $36.6 to $1,873.3 per ounce.
Hong Kong gold price on Friday dropped by HK$230 to $17,300 (THB69,661) per tael, the Chinese Gold and Silver Exchange Society reported.
