Gold gains despite stronger dollar
The price of gold in Thailand rose by THB100 per baht weight in morning trade on Monday despite the strong dollar, due to the US Federal Reserve signalling interest rate hike earlier than expected.
The Gold Traders Association report at 9.28am showed the buying price of a gold bar at THB26,400 per baht weight and selling price at THB26,500, while gold ornaments were priced at THB25,923.60 and THB27,000, respectively.
At close on Saturday, the buying price of a gold bar was THB26,300 per baht weight and selling price THB26,400, while gold ornaments were priced at THB25,832.64 and THB26,900, respectively.
The price had fallen by THB1,250 per baht weight last week.
Spot gold on Monday was US$1,774 (THB55,935) per ounce after Comex gold on Friday dropped by $5.8 to $1,769 per ounce.
Hong Kong gold price on Monday dropped by HK$190 to $16,410 (THB66,644) per tael, the Chinese Gold and Silver Exchange Society reported.