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Gold slides in Thailand, Hong Kong as dollar appreciates
The price of gold dropped by THB100 in morning trade on Monday.
AGold Traders Association report at 9.26am said the buying price of a gold bar was THB27,650 per baht weight and selling price THB27,750, while gold ornaments were priced at THB27,151.56 and THB28,250, respectively.
At close on Friday, the buying price of a gold bar was THB27,750 per baht weight and selling price THB27,850, while gold ornaments were THB27,257.68 and THB28,350, respectively.
Spot gold on Monday morning was moving at around US$1,789 (THB58,590) per ounce after Comex gold at close on Friday dropped by $7.9 to $1,792.1 per ounce due to pressure from the appreciation of the US dollar, including selling gold as a safe-haven asset after President Joe Biden had a telephone conversation with Chinese President Xi Jinping, which eased concerns about the conflict between the US and China.
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Hong Kong gold price, meanwhile, dropped heavily by HK$150 to $16,570 (THB69,721) per tael, the Chinese Gold and Silver Exchange Society reported.
Published : September 13, 2021