EnglishGlobal gold price moved higher as a weaker US dollar and expectations of a possible US-Iran agreement pushed oil prices lower, easing concerns over inflation and prolonged high interest rates.
According to Reuters, spot gold rose ০.৩% to $৪,০৫২.৯৬ per ounce on সোমবার, while US gold futures gained ০.২% to $৪,০৫১.৭০.
UBS analyst Giovanni Staunovo said lower crude oil prices generally support the global gold price because they reduce inflationary pressure and lessen expectations of further interest rate hikes.
The decline in the US dollar, which fell to its lowest level in nearly six weeks following intervention in the foreign exchange market to support the Japanese yen, also strengthened the global gold price.
Other precious metals also posted gains. Silver rose ০.২% to $৫৭.৭৭ per ounce, platinum climbed ০.৭% to $১,৬৩০.৭৮, and palladium increased ০.৮% to $১,২৬৩.২০.
In Bangladesh, the price of ২২-carat gold currently stands at Tk ২২৩,০৭৪ per bhori, including VAT. Analysts believe the rise in the global gold price could influence the domestic gold market.
Read more: International News
Stay connected: YouTube Community
English
