Thai gold price rises amid US inflation
The price of gold rose by THB150 in morning trade on Thursday.
A 9.25am report from the Gold Traders Association showed the buying price of gold bar at THB28,150 per baht weight and selling price at THB28,250, while the buying and selling price of gold ornaments is THB27,636.68 and THB28,750, respectively.
At close on Wednesday, the buying price of gold bar was THB28,000 per baht weight and selling price THB28,100, while gold ornaments were THB27,500.24 and THB28,600, respectively.
The spot gold price on Thursday morning was hovering around US$1,788 (THB59,665) per ounce after Comex gold at close on Wednesday rose by $14.4 to $1,784.9 per ounce due to support from the appreciation of the US dollar and buying gold as a safe-haven asset amid concerns about US inflation.
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The price of gold in Hong Kong, meanwhile, surged by HK$70 to $16,540 (THB70,999) per tael, the Chinese Gold and Silver Exchange Society reported.
