Thai gold price rises as US Fed injects liquidity
The price of gold rose by Bt100 per baht weight in morning trade on Wednesday (May 20), the Gold Traders Association reported.
As of 9.29am, the buying price of gold bar was Bt26,150 per baht weight and the selling price Bt26,350, while gold ornaments were priced at Bt25,681.04 and Bt26,850, respectively.
At close of trade on Tuesday (May 19), the buying price of gold bar was Bt26,050 and the selling price Bt26,250, while gold ornaments were priced at Bt25,574.92 and Bt26,750.
The Gold Spot Index price on Wednesday morning moved to around US$1,749 (Bt55,760) per ounce after the price rose by $11.20 to $1,745.6 per ounce at close on Tuesday.
Gold gained positive sentiment after the US Federal Reserve confirmed it will inject cash to increase liquidity in the US economy.
Meanwhile, the price of gold in the Hong Kong market rose by HK$110 to $16,130 (Bt66,350) per tael.
