Falling US bond yield drives gold price up
The price of gold rose by THB100 per baht weight on Friday morning amid the weakening dollar and falling US bond yield.
The Gold Traders Association report at 9.24am showed buying price of a gold bar at THB27,800 per baht weight and selling price at THB27,900, while gold ornaments were priced at THB27,303.16 and THB28,400, respectively.
At close on Thursday, buying price of a gold bar was THB27,700 per baht weight and selling price THB27,800, while gold ornaments were priced at THB27,197.04 and THB28,300, respectively.
Spot gold price on Friday was US$1,804 (THB59,018) per ounce after Comex gold on Thursday dropped by $1.9 to $1,800.2 per ounce.
Hong Kong gold price, meanwhile, dropped by HK$90 to $16,690 (THB70,287) per tael, the Chinese Gold and Silver Exchange Society reported.
