Gold price continues to rise
A 9.25am report from the Gold Traders Association showed the buying price of gold bar at THB28,100 per baht weight and selling price at THB28,200, while the buying and selling price of gold ornaments is THB27,591.20 and THB28,700, respectively.
At close on Thursday, the buying price of gold bar was THB28,050 per baht weight and selling price THB28,150, while gold ornaments were THB27,545.72 and THB28,650, respectively.
The spot gold price on Friday morning was hovering around US$1,760 (THB59,576) per ounce after Comex gold at close on Thursday dropped by $2.6 to $1,759.2 per ounce due to the selling of gold as safe-haven assets after the number of the US unemployment claims fell the most in three months. As for tonight, the market is keeping an eye on the US non-farm payrolls, which will be one of the factors the US Federal Reserve uses in considering cuts in its quantitative easing bond purchase program and interest rate hikes.
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The price of gold in Hong Kong, meanwhile, dropped by HK$70 to $16,300 (THB70,858) per tael, the Chinese Gold and Silver Exchange Society reported.
