Gold price sees downslide
The price of gold dropped by THB50 in morning trade on Wednesday.
A Gold Traders Association report at 9.28am said the buying price of a gold bar was THB28,500 per baht weight and selling price THB28,600, while the buying and selling price of gold ornaments is THB27,985.36 and THB29,100, 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$1,790 (THB60,448) per ounce after Comex gold at close on Tuesday dropped by $5.9 to $1,788.7 per ounce due to pressure from the rise in US government bond yields.
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The Hong Kong gold price, meanwhile, dropped by HK$50 to $16,650 (THB72,083) per tael, the Chinese Gold and Silver Exchange Society reported.