Gold starts steady after marginal gains last week
The price of gold was unchanged in morning trade on Monday after rising by Bt50 per baht weight last week, the Gold Traders Association reported.
As of 9.23am, the buying price of a gold bar was Bt25,750 per baht weight and selling price Bt25,850, while gold ornaments were priced at Bt25,286.88 and Bt26,350, respectively.
Spot gold price rose to US$1,826 (Bt54,523) per ounce in the morning after falling by $3.6 to $1,823.2 per ounce on Friday due to the rise in US treasury yield and the strengthening dollar.
Also, gold was pressured by mass sell-offs of the precious metal to cope with risks during President's Day.
Hong Kong gold price rose by HK$40 to $17,050 (Bt65,666) per tael, the Chinese Gold and Silver Exchange Society reported.
