Gold falls sharply in opening trade
The price of gold dropped by THB100 in morning trade on Wednesday.
A Gold Traders Association report at 9.23am said the buying price of a gold bar was THB27,850 per baht weight and selling price THB27,950, while gold ornaments cost THB27,348 and THB28,450, respectively.
At close on Tuesday, the buying price of a gold bar was THB27,950 per baht weight and selling price THB28,050, while gold ornaments cost THB27,439 and THB28,550, respectively.
The spot gold price on Wednesday morning was moving around US$1,798 (THB58,904) per ounce after Comex gold dipped sharply by $35.20, dropping from $1,800 to $1,798.50 per ounce at close on Tuesday due to pressure from depreciation of the dollar and the rise in US government bond yields.
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The Hong Kong gold price meanwhile plunged by HK$140 to $16,680 (THB70,299) per tael, the Chinese Gold and Silver Exchange Society reported.