Gold price sinks on Wednesday morning
The price of gold dropped by THB100 in morning trade on Wednesday.
A 9.24am report from the Gold Traders Association showed the buying price of gold bar at THB28,600 per baht weight and selling price at THB28,700, while the buying and selling price of gold ornaments is THB28,091.48 and THB29,200, respectively.
At close on Tuesday, the buying price of gold bar was THB28,700 per baht weight and selling price THB28,800, while gold ornaments were THB28,182.44 and THB29,300, respectively.
The spot gold price on Wednesday morning was hovering around US$1,806 (THB60,623) per ounce after Comex gold at close on Tuesday rose by $2.1 to $1,810.9 per ounce due to support from the fall in US government bond yields and the returning to buy gold during the New Year festival.
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The price of gold in Hong Kong, meanwhile, crashed by HK$90 to $16,790 (THB72,234) per tael, the Chinese Gold and Silver Exchange Society reported.
