Strengthening dollar pulls gold down
The price of gold dropped by THB50 in morning trade on Monday.
A Gold Traders Association report at 9.28am said the buying price of a gold bar was THB27,550 per baht weight and selling price THB27,650, while gold ornaments cost THB27,060.60 and THB28,150, respectively.
At close on Saturday, the buying price of a gold bar was THB27,600 per baht weight and selling price THB27,700, while gold ornaments were THB27,106.08 and THB28,200, respectively.
Spot gold price on Monday morning was moving at around US$1,746 (THB58,263) per ounce after Comex gold at close on Friday dropped by $5.3 to $1,751.4 per ounce. The price has dropped for the second day in a row due to pressure from the appreciation of the US dollar.
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Hong Kong gold price, meanwhile, dropped by HK$80 to $16,270 (THB69,661) per tael, the Chinese Gold and Silver Exchange Society reported.
