Gold glitters as it notches highest price in a year
The price of gold shot up to its highest in a year after surging by THB200 per baht weight in morning trade on Thursday, thanks to the US Federal Reserve signalling it would maintain the interest rate as well as its quantitative easing programme. The weakening dollar was also a factor.
A Gold Traders Association report at 9.30am showed the buying price of a gold bar at THB28,100 per baht weight and selling price at THB28,200 while gold ornaments cost THB27,591.20 and THB28,700, respectively.
At close on Wednesday, the buying price of a gold bar was THB27,900 per baht weight and selling price THB28,000, while gold ornaments cost THB27,394.12 and THB28,500, respectively.
The spot gold price on Thursday was US$1,826 (THB59,635) per ounce after Comex gold on Wednesday surged by $15.10 to $1,825 per ounce, the highest in a month.
The Hong Kong gold price meanwhile rose by HK$110 to $16,920 (THB71,145) per tael, the Chinese Gold and Silver Exchange Society reported.