Gold price drops while US market awaits for November inflation figures
The price of gold dropped by THB150 in morning trade on Thursday.
A Gold Traders Association report at 9.27am said the buying price of a gold bar was THB28,150 per baht weight and selling price THB28,250, while the buying and selling price of gold ornaments is THB27,636.68 and THB28,750, respectively.
At close on Wednesday, the buying price of a gold bar was THB28,300 per baht weight and selling price THB28,400, while gold ornaments were THB27,788.28 and THB28,900, respectively.
The spot gold price on Thursday morning hovered around US$1,784 (THB59,621) per ounce after Comex gold at close on Wednesday rose slightly by 80 cents to $1,785.5 per ounce due to support from the depreciation of the US dollar. Meanwhile, the market is keeping an eye on the announcement of US November inflation figures tomorrow, including meetings of the US Federal Reserve and the European Central Bank next week.
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The Hong Kong gold price, meanwhile, dropped by HK$20 to $16,600 (THB71,118) per tael, the Chinese Gold and Silver Exchange Society reported.