Gold prices hit record high in global market, reason revealed

Gold prices have risen again in the international market due to the weakening of the US dollar. On Thursday (December 18), the price of 24-carat gold in the Dubai market rose to 524.50 dirhams per gram, which is very close to the highest price this year.

At the time of market opening, it was seen that the price of gold had increased from 521.75 dirhams the previous morning to this level. It is worth noting that the price of 24-carat gold had reached a maximum of 525.25 dirhams on October 21 this year. After that, the price decreased slightly, but recently it has returned to an upward trend.
The prices of other carats of gold in the Dubai market on Thursday were-22 carat: 485.75 dirhams, 21 carat 465.75 dirhams, 18 carat 399.25 dirhams.
In the international market, the price of spot gold was $4,333.72 per ounce as of 11 am on Thursday, while the price of silver stood at $66.50 at the same time.

Hani Abuagla, senior market analyst at XTB MENA, said that the gold market is benefiting from the recent weakening of the US dollar and the decline in Treasury yields. According to him, concerns about the independence of the US central bank, the Federal Reserve, and the fear of political interference are also encouraging investors to turn to gold as a safe asset.

He also said that the ongoing geopolitical tensions in Europe, the Middle East and Asia have increased global risks, which is putting additional pressure on gold prices.

According to analysts, 2025 is becoming a 'decisive year' for gold. Earlier, the tension between the United States and Venezuela increased the demand for precious metals as a safe investment. As a result, the prices of gold and silver in the global market increased further. On Wednesday (December 17), the price of gold in the spot market increased by 0.7 percent to reach $ 4,332.21 per ounce at 11:10 pm Bangladesh time. Earlier, the price had increased by more than 1 percent earlier in the day.

Meanwhile, in the domestic market, a 22-carat bhoori is being sold for 2 lakh 17 thousand 67 taka and a 21-carat bhoori is being sold for 2 lakh 7 thousand 211 taka. In addition, the price of 18-carat bhoori is 1 lakh 77 thousand 643 taka and the price of traditional gold is 1 lakh 47 thousand 900 taka.

Earlier, on December 13, Bajus last adjusted the price of gold in the domestic market. The organization had increased the price of a 22-carat gold bhori by 3,452 taka, setting the price at 215,597 taka.

In total, Bajus has adjusted the price of gold in the domestic market a total of 86 times this year. Where the price has been increased 58 times, and the price has been reduced only 27 times. On the other hand, last year, the price of gold was adjusted a total of 62 times in the domestic market. Where the price was increased 35 times. In addition, the price of gold was reduced 27 times last year.

News Khaleej Times.