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Gold drops on stronger dollar, robust US economic data

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The price of gold dropped by THB50 per baht weight in morning trade on Wednesday due to a strengthening dollar and strong US economic data.

AGold Traders Association report at 9.22am showed the buying price of a gold bar at THB27,800 per baht weight and selling price at THB27,900, while gold ornaments cost THB27,303.16 and THB28,400, respectively.

At close on Tuesday, the buying price of a gold bar was THB27,850 per baht weight and selling price THB27,950, while gold ornaments cost THB27,348.64 and THB28,450, respectively.

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The spot gold price on Wednesday was US$1,892 (THB58,929) per ounce compared to the price on Tuesday, when it dropped by $4.40 to $1,894.40 per ounce.

The Hong Kong gold price on Wednesday dropped by HK$60 to $17,530 (THB70,369) per tael, the Chinese Gold and Silver Exchange Society reported.

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Published : June 09, 2021

By : The Nation