Gold continues last weeks downward trend
The price of gold in Thailand dropped by THB100 per baht weight in morning trade on Monday due to the strengthening dollar after the US showed strong improvement in its economic data.
Also, the price was pressured by mass sell-offs of the precious metal after its price had risen sharply.
The Gold Traders Association report at 9.25am showed the buying price of a gold bar at THB27,450 per baht weight and selling price at THB27,550, while gold ornaments were priced at THB26,954.48 and THB28,050, respectively.
At close on Saturday, the buying price of a gold bar was THB27,550 per baht weight and selling price THB27,650, while gold ornaments were THB27,060.60 and THB28,150, respectively.
The price had fallen by THB200 per baht weight last week.
Spot gold price on Monday fell further to US$1,866 (THB58,011) per ounce compared to Friday when it had dropped by $18.6 to $1,879.6 per ounce, the lowest in a week.
