Thai gold sinks sharply as Fed and inflation fears hit market

Key facts

• According to the Gold Traders Association ’s latest listed update at 5.22pm, gold bar prices were quoted at 67,900 baht per baht-weight for buying and 68,100 baht for selling
• The Gold Spot price stood at US$4,396.50 per ounce.
• The day’s movement marked a sharp drop of 1,150 baht from the previous trading day’s closing level, reflecting heavy pressure from both global and domestic market factors.
• Analysts said the sharp fall in Thai gold prices was mainly driven by a steep decline in global Gold Spot prices, as investors reacted to renewed concerns over geopolitical tensions, inflation and the outlook for US interest rates.