Gold prices were heavily down on a rumour that central banks in many countries would lower their gold holdings, Gold Traders Association president Jitti Tangsithpakdi said on Thursday.
Mr Jitti said gold prices were down as much as 550 baht per baht-weight on Wednesday’s close. The gold price stood at US$1,560 per ounce this morning.
The Gold Traders Association this morning announced buying prices of 21,724.28 baht per baht-weight for gold adornaments and 22,050 baht per baht-weight for gold ingots.
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