Gold prices have fallen in the global market, how much is it in the country?

After a continuous rise, the gold market in Dubai saw some relief on Wednesday (November 12) morning. After touching about 500 dirhams per gram on Tuesday, the price decreased slightly at the beginning of the new day. Investors are now focusing on the economic situation in the United States and the policy-making of the Federal Reserve.

At the time of market opening, the price of 24-carat gold was 495.5 dirhams per gram. 22-carat was being sold for 458.75 dirhams, 21-carat for 440 dirhams and 18-carat for 377 dirhams. Spot gold in the international market was $ 4,105.24 per ounce, which is 0.12 percent lower.

Gold prices reached a three-week high at the beginning of the week. The news of progress in resolving the government shutdown situation in the United States and the approval of the Senate deal gave optimism to the market.

Vijay Velecha, chief investment officer at Century Financial, said that the fundamental outlook for the gold market is still positive. Once the government reopens, the Federal Reserve will receive important economic data, which will influence its December policy setting.

Alex Kuptsikevich, chief market analyst at FXPro, said that the steps to exit the shutdown situation have brought a recovery to the gold market. The Fed is now taking a cautious stance and is uncertain about cutting interest rates by the end of the year. However, their decision will be clearer when the publication of US economic data resumes.

In the domestic market, the price of 22-carat gold per bhoori (11.664 grams) will be 2 lakh 8 thousand 470 taka. In addition, the price of 21-carat gold per bhoori has been set at 1 lakh 99 thousand taka, 18-carat gold per bhoori at 1 lakh 70 thousand 563 taka and the price of traditional gold per bhoori at 1 lakh 41 thousand 858 taka.