Thursday, September 16, 2021

business

Gold down as dollar gains after Fed signal on QE


The price of gold in Thailand dropped by THB50 on Friday morning.

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The Gold Traders Association report at 9.28am showed buying price of a gold bar at THB28,050 per baht weight and selling price at THB28,150, while gold ornaments were priced at THB27,545.72 and THB28,650, respectively.


At close on Thursday, buying price of a gold bar was THB28,100 per baht weight and selling price THB28,200, while gold ornaments were priced at THB27,591.20 and THB28,700, respectively.

Spot gold on Friday morning was moving at around US$1,783 (THB59,463) per ounce after Comex gold price at close on Thursday dropped by $1.3 to $1,783.1 per ounce, due to pressure from the appreciation of the US dollar, including the recent meeting results of the US Federal Reserve which signalled that it would start reducing the limit in the bond purchase programme under the quantitative easing (QE) measures this year.


Hong Kong gold, meanwhile, rose by HK$10 to $16,550 (THB70,849) per tael, the Chinese Gold and Silver Exchange Society reported.

Published : August 20, 2021

By : The Nation