Gold reverses two days of losses in Thailand
The price of gold in Thailand rose by THB150 per baht weight on Friday morning, rebounding after two consecutive days of decline.
The Gold Traders Association report at 9.21am showed buying price of a gold bar at THB28,000 per baht weight and selling price at THB28,100, while gold ornaments were priced at THB27,500.24 and THB28,600, respectively.
At close on Thursday, the buying price of a gold bar was THB27,850 per baht weight and selling price THB27,950, while gold ornaments were priced at THB27,348.64 and THB28,450, respectively.
Spot gold price on Friday was US$1,804 (THB59,405) per ounce after Comex gold on Thursday rose by $2 to $1,805.4 per ounce on decline in US bond yield, the European Central Bank's signal it would maintain the interest rate at a low level for two years, and mass buy-ups of the precious metal in response to the rise in US jobless claims.
Hong Kong gold price, meanwhile, rose by HK$110 to $16,740 (THB70,940) per tael, the Chinese Gold and Silver Exchange Society reported.