Gold prices have fallen in the international market, weighed down by a strong US dollar and the US Federal Reserve’s hawkish stance on interest rates.
As of 2:34 pm Bangladesh time on Friday (19 June), spot gold was down 0.8 percent at $4,174.50 an ounce, while US gold futures fell 1.2 percent to $4,192.80. Nikos Tzabouras, senior market analyst at Tradu.com, told Reuters that with high interest rates persisting for a long period, pressure had built on gold as a non-yielding asset, leaving a risk that the per-ounce price could fall below $4,000.
Meanwhile, the Fed’s latest projections hinted at the possibility of further interest-rate increases this year. At the same time, Goldman Sachs lowered its December gold-price forecast to $4,900 an ounce, though the firm remains positive on the gold market over the long term.
In the domestic market, the price of 22-carat gold stood at Tk 228,556 per bhori, 21-carat at Tk 218,292, 18-carat at Tk 187,440 and traditional gold at Tk 153,148, all unchanged.
For the record, pressure built on gold soon after Iran’s attacks on the United States and Israel in late February. Before the war began, the price of an ounce of gold reached a high of $5,303 on 28 January, but by last Friday (12 June) it had fallen to $4,235.
বাংলায় মূল প্রতিবেদন পড়ুন · Read the original Bengali report