Gold price slides down
The price of gold dropped by THB150 in morning trade on Wednesday.
A 9.27am report from the Gold Traders Association showed the buying price of gold bar at THB28,000 per baht weight and selling price at THB28,100, while the buying and selling price of gold ornaments is THB27,500.24 and THB28,600, respectively.
At close on Tuesday, the buying price of gold bar was THB28,150 per baht weight and selling price THB28,250, while gold ornaments were THB27,636.68 and THB28,750, respectively.
The spot gold price on Wednesday morning was hovering around US$1,773 (THB59,235) per ounce after Comex gold at close on Tuesday dropped by $16 to $1,772.3 per ounce, hitting the lowest level in nearly two weeks. This was due to pressure from concerns that the US Federal Reserve (Fed) would accelerate interest rate hikes after the producer price index (PPI) in November hit the highest record level.
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The price of gold in Hong Kong, meanwhile, slumped by HK$100 to $16,500 (THB70,631) per tael, the Chinese Gold and Silver Exchange Society reported.
