Bullish US stock market pushes Thai gold price down
The price of gold in Thailand dropped by THB50 per baht weight in morning trade on Friday due to the rise in the US stock market and strong US economic data.
The Gold Traders Association report at 9.29am showed the buying price of a gold bar at THB26,700 per baht weight and selling price at THB26,800, while gold ornaments were priced at THB26,226.80 and THB27,300, respectively.
At close on Thursday, the buying price of a gold bar was THB26,750 per baht weight and selling price THB26,850, while gold ornaments were priced at THB26,272.28 and THB27,350, respectively.
Spot gold price on Friday was US$1,779 (THB56,643) per ounce after Comex gold on Thursday dropped by $6.7 to $1,776.7 per ounce.
Hong Kong gold price, meanwhile, dropped by HK$70 to $16,420 (THB67,352) per tael, the Chinese Gold and Silver Exchange Society reported.
