Gold price up on US weak economic data
The price of gold rose sharply by THB150 in morning trade on Thursday.
A Gold Traders Association report at 9.25am said the buying price of a gold bar was THB28,250 per baht weight and selling price THB28,350, while the buying and selling price of gold ornaments is THB27,742.80 and THB28,850, respectively.
At close on Wednesday, the buying price of a gold bar was THB28,100 per baht weight and selling price THB28,200, while gold ornaments were THB27,591.20 and THB28,700, respectively.
The spot gold price on Thursday morning hovered around US$1,800 (THB59,895) per ounce after Comex gold at close on Wednesday rose by $5.4 to $1,798.8 per ounce due to support from the depreciation of the US dollar and the decline in US bond yields, including the weak US economic data disclosure.
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The Hong Kong gold price, meanwhile, rose by HK$70 to $16,650 (THB71,272) per tael, the Chinese Gold and Silver Exchange Society reported.
