Gold prices fall in global markets

The price of gold has fallen again in the global market. The strong position of the US dollar, the increase in interest rates on US government bonds, and the fear of high interest rates remaining for a long time have put pressure on the price of gold. The decline in the price of gold in the international market may have an impact on the domestic market as well.

At 8:05 a.m. Vietnam time on Wednesday (September 9), the spot market price of gold was around $4,356 per ounce, down significantly from the previous day. At the same time, the price of silver was $65.63 per ounce, platinum was $1,824, and palladium was $1,336.

One of the reasons for the decline in gold prices in the international market is the possibility of a cautious monetary policy by the US central bank, the Federal Reserve (Fed). There is concern among investors that the Fed may keep high interest rates for a while longer to control inflation.

Recently, the interest rate on 10-year US government bonds has risen to about 4.8 percent. At the same time, the US dollar has strengthened.

This decline in the price of gold in the global market may also have some impact on the domestic market, because the price of gold in the international market is one of the most important bases for determining prices in the domestic market.

If the global gold price trend continues, there may be a price adjustment in the domestic market as well. However, the extent of the decline will depend on the dollar-taka exchange rate, the demand and supply of gold in the country, and local market management.