A big jump in the price of gold in the world market

Gold prices rose slightly in the international market due to the depreciation of the dollar. However, investors are keenly observing how the ongoing situation in the Middle East will affect inflation and monetary policy. As a result, there is still a kind of caution in the market.

On Thursday (July 9) at 3:01 PM Bangladesh time, the price of gold in the spot market increased by 0.8 percent to 4 thousand 106.82 dollars per ounce. In addition, the price of US gold futures for delivery in August increased by 0.8 percent to 4 thousand 116.40 dollars per ounce.

Nikos Zaboras, senior market analyst at tradu.com, told Reuters news agency that "the gold market is seeing gains today as the dollar's strength eases somewhat." But he warned that prolonged high interest rates are harmful to non-interest-bearing assets such as gold. As a result, the price of gold may fall again.

On the other hand, the average gold price forecast for 2026 has been reduced to $4,560 per ounce from $4,864. Also, the forecast for 2027 has been reduced from $5,000 to $4,925. However, HSBC expects institutional or government sector demand for gold to increase in the latter part of the year.

Among other precious metals, silver rose 1.4 percent to $59.14 an ounce. In addition, the price of platinum increased by 2.5 percent to 1 thousand 618.29 dollars and the price of palladium increased by 2.8 percent to 1 thousand 247.37 dollars.

Meanwhile, the price of 22 carat gold ornaments is now Tk 221 thousand 966 per load (11.664 grams) including VAT in the country's market. Apart from this, 21 lakh 11 thousand 993 taka per 21 carat, 1 lakh 82 thousand 437 taka per 18 carat and 1 lakh 48 thousand 774 taka per traditional method gold ornaments have been fixed.