Gold price shoots up sharply
The price of gold peaked by THB400 in morning trade on Thursday.
A Gold Traders Association report at 9.27am said the buying price of a gold bar was THB28,600 per baht weight and selling price THB28,700, while the buying and selling price of gold ornaments is THB28,091.48 and THB29,200, respectively.
At close on Wednesday, the buying price of a gold bar was THB28,200 per baht weight and selling price THB28,300, while gold ornaments were THB27,697.32 and THB28,800, respectively.
The spot gold price on Thursday morning hovered around US$1,844 (THB60,585) per ounce after Comex gold at close on Wednesday surged by $17.5 to $1,848.3 per ounce due to support in buying gold as an inflation hedging asset after the US Consumer Price Index (CPI) rose to its highest level in more than 30 years.
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The Hong Kong gold price, meanwhile, rose sharply by HK$200 to $17,190 (THB72,469) per tael, the Chinese Gold and Silver Exchange Society reported.
