Gold price flat as US rate hike prospects remain unchanged

Bangkok-Thailand (Oct 15)  Gold prices were unchanged at 21,000 baht per baht-weight in Bangkok on Saturday.

The Gold Traders Association announced the buying price at 20,900 baht and the selling price at 21,000 baht per baht-weight for bullion.

For ornaments, the buying and selling prices were 20,526.64 baht and 21,500 baht per baht-weight respectively.

The local prices changed four times on Friday for a net loss of 150 baht from the previous day.

Bloomberg reported on Friday gold held near a four-month low as investors focused on the likelihood of higher US interest rates. Holdings in exchange-traded funds increased to the highest since 2013.

US retail sales data bolstered the case for higher interest rates this year, while Federal Reserve chair Janet Yellen’s speech did little to alter that view, it said.

Source: BangkokPost