Gold rebounds as dollar shows signs of weakening
The price of gold rose by THB50 in morning trade on Friday.
A Gold Traders Association report at 9.27am said the buying price of a gold bar was THB27,750 per baht weight and selling price THB27,850, while gold ornaments were priced at THB27,257.68 and THB28,350, respectively.
At close on Thursday, the buying price of a gold bar was THB27,700 per baht weight and selling price THB27,800, while gold ornaments were THB27,197.04 and THB28,300, respectively.
Spot gold price on Friday morning was moving at around US$1,796 (THB58,640) per ounce after Comex gold at close on Thursday rose by $6.5 to $1,800 per ounce due to support from the depreciation of the US dollar after the price had dropped for two consecutive days earlier.
- Baht stable but sales by foreign investors could trigger volatility
- SET to launch “Live Exchange” market for SME fundraising
Hong Kong gold price, meanwhile, rose by HK$10 to $16,650 (THB69,961) per tael, the Chinese Gold and Silver Exchange Society reported.