Gold price continues to drop
The price of gold slumped by THB250 in morning trade on Wednesday.
A Gold Traders Association report at 9.22am said the buying price of a gold bar was THB28,300 per baht weight and selling price THB28,400, while the buying and selling price of gold ornaments is THB27,788.28 and THB28,900, respectively.
At close on Tuesday, the buying price of a gold bar was THB28,550 per baht weight and selling price THB28,650, while gold ornaments were THB28,030.84 and THB29,150, respectively.
The spot gold price on Wednesday morning hovered around US$1,780 (THB59,945) per ounce after Comex gold at close on Tuesday dropped by $8.7 to $1,776.5 per ounce due to pressure after US Federal Reserve Chairman Jerome Powell signaled an end to the quantitative easing bond purchase program earlier than expected.
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The Hong Kong gold price, meanwhile, dropped by HK$150 to $16,580 (THB71,613) per tael, the Chinese Gold and Silver Exchange Society reported.
