Gold opens steady in Thai market depite spot price slump
The price of gold in Thailand on Friday morning was unchanged from Thursdays close.
The Gold Traders Association report at 9.29am showed buying price of a gold bar at THB28,350 per baht weight and selling price at THB28,450, while gold ornaments were priced at THB27,833.76 and THB28,950, respectively.
Spot gold on Friday morning dropped to US$1,801 (THB60,099) per ounce after Comex gold price at close on Thursday dropped by $5.6 to $1,808.9 per ounce, due to the rise in US government bond yield, momentum in gold sales after a robust performance by the US stock market reacting to a decline in unemployment claims.
Hong Kong gold price dropped by HK$70 to $16,720 (THB71,742) per tael, the Chinese Gold and Silver Exchange Society reported.
