Gold crawls up by THB50
The price of gold rose by THB50 in morning trade on Wednesday.
A Gold Traders Association report at 9.28am said the buying price of a gold bar was THB28,150 per baht weight and selling price THB28,250, while the buying and selling price of gold ornaments is THB27,636.68 and THB28,750, respectively.
At close on Tuesday, 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 Wednesday morning hovered around US$1,793 (THB59,680) per ounce after Comex gold at close on Tuesday dropped continuously by $22.5, broke down psychologically significant level around $1,800, to $1,783.8 per ounce due to pressure from the rise in US government bond yields, including concerns that Jerome Powell's second term as Federal Reserve Chair (Fed) will make the Fed likely to raise interest rates next year.
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The Hong Kong gold price, meanwhile, dropped by HK$130 to $16,650 (THB71,107) per tael, the Chinese Gold and Silver Exchange Society reported.
