Gold price slides down
The price of gold dropped by THB50 in morning trade on Wednesday.
A 9.23am report from the Gold Traders Association showed the buying price of gold bar at THB28,300 per baht weight and selling price at 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 gold bar was THB28,350 per baht weight and selling price THB28,450, while gold ornaments were THB27,833.76 and THB28,950, respectively.
The spot gold price on Wednesday morning was hovering around US$1,790 (THB59,928) per ounce after Comex gold at close on Tuesday rose by $5.2 to $1,784.7 per ounce due to support in buying gold before the New Year festival. Meanwhile, the market is keeping an eye on the US inflation figures in November on Friday, including meetings of the US Federal Reserve and the European Central Bank next week.
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The price of gold in Hong Kong, meanwhile, rose by HK$30 to $16,610 (THB71,333) per tael, the Chinese Gold and Silver Exchange Society reported.
