Gold prices tumble B50 during B21,300

Gold prices forsaken 50 baht to 21,300 baht per baht-weight in Bangkok on Saturday.

The Gold Traders Association announced a shopping cost during 21,200 baht and a offered cost during 21,300 baht per baht-weight for bullion.

For ornaments, a shopping and offered prices were 20,814.68 baht and 21,800 baht per baht-weight respectively.

The prices altered 4 times on Friday for sum benefit of 100 baht from a prior day.

Bloomberg reported from Singapore on Friday bullion had climbed, pleat a second weekly decline, as a dump in equities increasing direct for a steel as haven.

Gold rose as most as 1% as European bonds retreated for a third day after weakening corporate gain eroded financier confidence. The steel gained even after Regional Federal Reserve chiefs for Boston and Kansas City pronounced Thursday that a executive bank risks stoking an item burble by loitering lifting seductiveness rates for too long.

Bullion rallied 20% this year as traders pared behind expectations for a gait of US rate increases, boosting gold’s interest opposite interest-bearing assets. Still, prices are down 1.2% this week as a dollar rebounded, curbing direct for an choice investment.

“Gold has managed to conflict a headwind being generated by a stronger dollar, with a concentration instead being bound on reduce bonds and descending bond yields,” Ole Hansen, conduct of commodity plan during Saxo Bank A/S, pronounced by e-mail.

Bullion for evident smoothness gained 0.8 percent to $1,274.10 an unit by 11.51am in London, according to Bloomberg general pricing. Prices reached a top in some-more than a year on May 2.

Holdings in bullion-backed exchange-traded products increasing for a 13th day on Thursday, information gathered by Bloomberg show. Assets rose 3.7 tonnes to 1,814.7 tons, a top given Dec 2013.

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Article source: http://www.bangkokpost.com/business/gold/972753/gold-prices-fall-b50-at-b21-300

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