Gold price sees a slight drop
The price of gold dropped by THB50 in morning trade on Monday.
A 9.26am report from the Gold Traders Association showed the buying price of gold bar at THB28,250 per baht weight and selling price at THB28,350, while the buying and selling price of gold ornaments is THB27,742.80 and THB28,850, respectively.
At close on Saturday, the buying price of 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 Monday morning was hovering around US$1,787 (THB59,625) per ounce after Comex gold at close on Friday rose by $8.1 to $1,784.8 per ounce due to support from buying gold as a hedge against inflation after the US consumer price index (CPI) in November rose to its highest in nearly 40 years.
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The price of gold in Hong Kong, meanwhile, rose by HK$10 to $16,490 (THB71,006) per tael, the Chinese Gold and Silver Exchange Society reported.
