Gold price drops slightly
The price of gold dropped by THB50 in morning trade on Tuesday.
A Gold Traders Association report at 9.24am 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 Monday, the buying price of a gold bar was THB28,300 per baht weight and selling price THB28,400, while gold ornaments were THB27,788.28 and THB28,900, respectively.
The spot gold price on Tuesday morning hovered around US$1,825 (THB59,900) per ounce after Comex gold at close on Monday rose by $11.2 to $1,828 per ounce due to support from the depreciation of the US dollar and the signal from a number of central banks, including the Federal Reserve, that they will not accelerate interest rate hikes.
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The Hong Kong gold price, meanwhile, rose by HK$70 to $16,940 (THB71,398) per tael, the Chinese Gold and Silver Exchange Society reported.
