Gold prices fell further in the global market, how much is it in the country?

Gold prices have fallen in the global market.

Gold prices fell in the global market on the last day of the year. Silver, platinum and palladium also saw a decline. Prices fell slightly during the day due to low trading volume mainly due to the year-end holidays. Spot gold prices fell 0.9 percent to $4,307.56 per ounce on Wednesday (December 31), the lowest in more than two weeks.

US gold futures for February delivery fell 1.5 percent to $4,318.90 per ounce. Gold prices have risen about 65 percent this year, the highest in a year since 1979. Experts say that the US interest rate cut, expectations of future monetary policy easing, geopolitical tensions, massive purchases by central banks and strong ETF investment flows have led to such a jump in gold prices this year.

Meanwhile, spot silver prices fell 6.4 percent to $71.53 an ounce on Wednesday after hitting a record high of $83.62 on Monday (December 29). Silver prices have risen more than 145 percent this year, the highest in a year. This has happened due to supply shortages, dwindling stocks, increased demand from industry and investors and the recent recognition of silver as an ‘important mineral’ in the United States.

Meanwhile, spot platinum prices have fallen after hitting an all-time high of $2,478.50 on Monday. On Wednesday, it fell 9.3 percent to $1,995.24 an ounce. However, it has risen more than 110 percent over the year. Palladium prices fell 1.8 percent to $1,581.94 an ounce on Wednesday. The price of the precious metal has increased more than 60 percent by the end of the year, which is the highest in the last 15 years.

The price of gold in the domestic market has also decreased in line with the global market. The Bangladesh Jewelers Association (BAJUS) said in a statement on Wednesday that the price of a 22-carat gold bhori has been reduced by Tk 2,741 to Tk 2,24,182. The new price will be effective from Thursday (January 1).

Reuters news.