Thai gold price sees big jump as US bond yield falls
The price of gold in Thailand rose by THB300 per baht weight in morning trade on Friday, due to the weakening dollar and the decline in US bond yield.
The Gold Traders Association report at 9.32am showed the buying price of a gold bar at THB26,700 per baht weight and selling price at THB26,800, while gold ornaments were priced at THB26,226.80 and THB27,300, respectively.
At close on Thursday, the buying price of a gold bar was THB26,400 per baht weight and selling price THB26,500, while gold ornaments were THB25,923.60 and THB27,000, respectively.
Spot gold price on Friday was US$1,816 (THB56,697) per ounce, the highest since February, compared to Thursday when it rose by $31.4 to $1,800 per ounce.
Hong Kong gold price on Friday rose by HK$200 to $16,810 (THB67,600) per tael, the Chinese Gold and Silver Exchange Society reported.