Gold slides for second day in a row in Thailand and Hong Kong
The price of gold in Thailand dropped by THB100 per baht weight on Tuesday morning.
The Gold Traders Association report at 9.23am showed 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 Monday, buying price of a gold bar was THB27,550 per baht weight and selling price THB27,650, while gold ornaments were priced at THB27,060.60 and THB28,150, respectively.
Spot gold on Tuesday morning rose to US$1,735 (THB58,070) per ounce after Comex gold at close on Monday crashed by $36.60 to $1,726.50 per ounce due to pressure from the appreciating dollar. There was also speculation that the US Federal Reserve may consider reducing quantitative easing after US non-farm payroll surged beyond expectation.
Hong Kong gold price meanwhile dropped by HK$140 to $16,070 (THB69,116) per tael, the Chinese Gold and Silver Exchange Society reported.
