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Gold price drops amid strong US economic data
EconOct 30. 2020
By The Nation
The price of gold dropped by Bt100 per baht weight in morning trade on Friday, the Gold Traders Association reported.
As of 9.28am, the buying price of a gold bar was Bt27,600 per baht weight and selling price Bt27,700, while gold ornaments were priced at Bt27,106.08 and Bt28,200, respectively.
At close on Thursday, the buying price of a gold bar was Bt27,700 per baht weight and selling price Bt27,800 while gold ornaments were priced at Bt27,197.04 and Bt28,300, respectively.
Spot gold price moved to US$1,873 (Bt58,401) per ounce on Friday morning after the price dropped by US$11.2 to $1,868 per ounce at close on Thursday due to the strengthening dollar and mass sell-offs of safe-haven assets in response to strong US economic data, especially the historic rise in third-quarter gross domestic product.
Hong Kong gold price dropped by HK$120 to $17,250 (Bt69,381) per tael on Friday morning, the Chinese Gold and Silver Exchange Society reported.
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