THURSDAY, March 28, 2024
nationthailand

Price plummets as high sales rob gold of its glitter

Price plummets as high sales rob gold of its glitter

The price of gold in Thailand dropped by THB450 per baht weight on Monday morning.

The Gold Traders Association report at 9.29am showed the buying price of a gold bar at THB27,450 per baht weight and selling price at THB27,550, while gold ornaments were priced at THB26,954.48 and THB28,050, respectively.


At close on Saturday, the buying price of a gold bar was THB27,900 per baht weight and selling price THB28,000, while gold ornaments were priced at THB27,394.12 and THB28,500, respectively.


Spot gold on Monday morning dropped to US$1,738 (THB58,119) per ounce after Comex gold price at close on Friday dropped heavily by $45.8 to $1,763.1 per ounce, due to pressure from the selling of gold as safe-haven assets, after US non-farm payroll in July surged beyond expectation.

Hong Kong gold price meanwhile crashed by HK$680 to $16,030 (THB68,887) per tael, the Chinese Gold and Silver Exchange Society reported.

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