Gold dazzles in opening trade
The price of gold peaked by THB250 in morning trade on Wednesday.
A Gold Traders Association report at 9.25am said the buying price of a gold bar was THB28,050 per baht weight and selling price THB28,150, while gold ornaments cost THB27,545.72 and THB28,650, respectively.
At close on Tuesday, the buying price of a gold bar was THB27,800 per baht weight and selling price THB27,900, while gold ornaments cost THB27,303.16 and THB28,400, respectively.
The spot gold price on Wednesday morning was moving around US$1,804 (THB59,442) per ounce after Comex gold at close on Tuesday rose by $12.70 to $1,807.10 per ounce due to expectation that the US Federal Reserve would go slow on any increase in the interest rate and relax its bond purchasing programme under quantitative easing measures after the country revealed lower-than-expected inflation numbers.
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The Hong Kong gold price meanwhile rose by HK$120 to $16,730 (THB70,835) per tael, the Chinese Gold and Silver Exchange Society reported.
