Gold up in Thai market despite pressure from strengthening dollar
The price of gold rose by THB100 in morning trade on Tuesday.
A Gold Traders Association report at 9.28am said the buying price of a gold bar was THB27,800 per baht weight and selling price of THB27,900, while gold ornaments cost THB27,303.16 and THB28,400, respectively.
At close on Monday, the buying price of a gold bar was THB27,700 per baht weight and selling price THB27,800, while gold ornaments cost THB27,197.04 and THB28,300, respectively.
Spot gold price on Tuesday morning was moving at around US$1,754 (THB58,985) per ounce after Comex gold at close on Monday rose slightly by 30 cents to $1,752 per ounce. However, the gold market was under pressure from the appreciation of the US dollar and the rise in US government bond yields.
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Hong Kong gold price, meanwhile, dropped by HK$20 to $16,240 (THB70,206) per tael, the Chinese Gold and Silver Exchange Society reported.
