Gold price continues to drop
The price of gold dropped by THB150 in morning trade on Thursday.
A Gold Traders Association report at 9.25am said the buying price of a gold bar was THB28,400 per baht weight and selling price THB28,500, while the buying and selling price of gold ornaments is THB27,894.40 and THB29,000, respectively.
At close on Wednesday, 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 Thursday morning hovered around US$1,802 (THB60,242) per ounce after Comex gold at close on Wednesday dropped by $5.1 to $1,805.8 per ounce due to pressure from Us government bond yields rising above the 1.5-per-cent level and from selling gold as a safe-haven asset after the New York stock market’s Dow Jones Industrial Average surged several days in a row.
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The Hong Kong gold price, meanwhile, rose by HK$10 to $16,770 (THB71,899) per tael, the Chinese Gold and Silver Exchange Society reported.
