Gold price drops THB50 in the morning trade
The price of gold dropped by THB50 in morning trade on Wednesday.
A Gold Traders Association report at 9.27am said the buying price of a gold bar was THB28,100 per baht weight and selling price THB28,200, while the buying and selling price of gold ornaments is THB27,591.20 and THB28,700, respectively.
At close on Tuesday, the buying price of a gold bar was THB28,150 per baht weight and selling price THB28,250, while gold ornaments were THB27,636.68 and THB28,750, respectively.
The spot gold price on Wednesday morning hovered around US$1,782 (THB59,429) per ounce after Comex gold at close on Tuesday dropped by $6.4 to $1,789.4 per ounce due to pressure from the appreciation of the US dollar, while investors are keeping an eye on the monetary policy meetings of the US Federal Reserve's (Fed) on Wednesday night and of the Bank of England (BOE) on Thursday.
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The Hong Kong gold price, meanwhile, dropped by HK$70 to $16,580 (THB71,065) per tael, the Chinese Gold and Silver Exchange Society reported.
