Gold price falls as US bond yield rises
The price of gold dropped by THB100 per baht weight in morning trade on Wednesday due to a rising US bond yield. Meanwhile, investors delayed immediate stock and gold purchases as they awaited results of a US Federal Reserve meeting on Tuesday and Wednesday.
A Gold Traders Association report at 9.27am showed the buying price of a gold bar at THB27,300 per baht weight and selling price at THB27,400, while gold ornaments cost THB26,802.88 and THB27,900, respectively.
At close on Tuesday, the buying price of a gold bar was THB27,400 per baht weight and selling price THB27,500, while gold ornaments cost THB26,909 and THB28,000, respectively.
The spot gold price on Wednesday was US$1,855 (THB57,827) per ounce after the Comex gold price on Tuesday dropped by $9.50 to $1,856.40 per ounce.
The Hong Kong gold price on Wednesday fell by HK$60 to $17,180 (THB69,004) per tael, the Chinese Gold and Silver Exchange Society reported.
