Gold drops on stronger dollar, robust US economic data
The price of gold dropped by THB50 per baht weight in morning trade on Wednesday due to a strengthening dollar and strong US economic data.
A Gold Traders Association report at 9.22am showed the buying price of a gold bar at THB27,800 per baht weight and selling price at THB27,900, while gold ornaments cost THB27,303.16 and THB28,400, respectively.
At close on Tuesday, the buying price of a gold bar was THB27,850 per baht weight and selling price THB27,950, while gold ornaments cost THB27,348.64 and THB28,450, respectively.
The spot gold price on Wednesday was US$1,892 (THB58,929) per ounce compared to the price on Tuesday, when it dropped by $4.40 to $1,894.40 per ounce.
The Hong Kong gold price on Wednesday dropped by HK$60 to $17,530 (THB70,369) per tael, the Chinese Gold and Silver Exchange Society reported.
