Gold soars by THB200 as Fed expected to maintain interest rate
The price of gold in Thailand surged by THB200 per baht weight in morning trade on Friday, amid expectations that the US Federal Reserve would not raise its policy interest rate despite rise in inflation.
The Gold Traders Association report at 9.24am showed the buying price of a gold bar at THB27,850 per baht weight and selling price at THB27,950, while gold ornaments were priced at THB27,348.64 and THB28,450, respectively.
At close on Thursday, the buying price of a gold bar was THB27,650 per baht weight and selling price THB27,750, while gold ornaments were priced at THB27,151.56 and THB28,250, respectively.
Spot gold price on Friday was US$1,900 (THB59,085) per ounce compared to Thursday when it rose by 90 cents to $1,896.4 per ounce.
Hong Kong gold price on Friday rose by HK$170 to $17,570 (THB70,432) per tael, the Chinese Gold and Silver Exchange Society reported.
