Gold price crashes on Thursday morning trade
The price of gold dropped by THB100 in morning trade on Thursday.
A 9.27am report from the Gold Traders Association showed the buying price of gold bar at THB27,950 per baht weight and selling price at THB28,050, while the buying and selling price of gold ornaments is THB27,439.60 and THB28,550, respectively.
At close on Wednesday, 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 Thursday morning was hovering around US$1,777 (THB59,245) per ounce after Comex gold at close on Wednesday dropped by $25.5 to $1,763.9 per ounce due to pressure from the selling of gold as safe-haven assets after the US revealed strong economic data from private sector employment numbers that rose more than expected in October.
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The price of gold in Hong Kong, meanwhile, dropped by HK$70 to $16,480 (THB70,603) per tael, the Chinese Gold and Silver Exchange Society reported.
