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Gold price in downtrend due to rising US bond yield
The price of gold in Thailand dropped by THB100 per baht weight in morning trade on Thursday.
AGold Traders Association report at 9.29am showed the buying price of a gold bar at THB27,900 per baht weight and selling price at THB28,000, while gold ornaments cost THB27,394.12 and THB28,500, 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 THB27,500.24 and THB28,600, respectively.
The spot gold price on Thursday was US$1,800 (THB59,101) per ounce after Comex gold on Wednesday dropped by $8 to $1,803.40 per ounce due to a rise in the US bond yield.
The Hong Kong gold price meanwhile dropped by HK$10 to $16,710 (THB70,587) per tael, the Chinese Gold and Silver Exchange Society reported.
Published : July 22, 2021
By : The Nation