Gold price drops in opening trade
The price of gold dropped by THB50 in morning trade on Thursday.
A Gold Traders Association report at 9.21am said the buying price of a gold bar was THB27,950 per baht weight and selling price THB28,050, while gold ornaments cost THB27,439.60 and THB28,550, respectively.
At close on Wednesday, the buying price of a gold bar was THB28,000 per baht weight and selling price THB28,100, while gold ornaments cost THB27,500 and THB28,600, respectively.
The spot gold price on Thursday morning was moving around US$1,763 (THB59,166) per ounce after Comex gold at close on Wednesday rose slightly by 60 cents to $1,778.80 per ounce ahead of results from a key Federal Reserve meeting. The New York gold market was closed for trading before the Fed committee announced it would taper its quantitative easing programme soon and raise the interest rate next year.
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The Hong Kong gold price, meanwhile, rose by HK$80 to $16,400 (THB70,688) per tael, the Chinese Gold and Silver Exchange Society reported.
