Gold prices rose significantly in global markets as oil prices fell and inflation fears eased. Gold prices rose more than 1 percent in early trading on Monday.
At the same time, investors are awaiting important US inflation data and the next policy decision by the country's central bank, the Federal Reserve.
The price of gold in the spot market rose 1.6 percent to $4,129.69 per ounce at 8:20 am Bangladesh time on Monday (November 9). At the same time, the price of US gold futures for delivery in December also rose 1.6 percent to $4,139 per ounce.
According to market analysts, inflation concerns have eased somewhat as oil prices have stabilized. In addition, there has been some weakness in the US dollar, which has contributed to the increase in gold prices.
Tim Waterer, chief market analyst at KCM Trade, told Reuters that oil prices have remained stable due to Trump's conciliatory stance on Iran. This has eased some inflationary pressures in the precious metals market. The dollar has also weakened somewhat.
He also said that if inflation starts to rise again, the US dollar could strengthen. This would create the possibility of an interest rate hike in December, which could have an impact on the gold market. Other precious metals also rose in global markets. Silver rose 2.8 percent to $53.31 an ounce on Monday. Platinum rose 1.6 percent to $1,556.14 and palladium rose 2.1 percent to $1,44.28 an ounce. Meanwhile, the price of the best quality or 22-carat gold (11.664 grams) per bhori (11.664 grams) in the country's market, including VAT, is currently 226,923 taka. In addition, 21-carat gold is 216,717 taka, 186,999 taka, and 152,040 taka per bhori of traditional gold.
