#GoldFalls3.24%ThisWeek
In the last trading day of the week in the global market, the price of gold in the international market fell by more than 3% in a single day. The main reasons for this decline are mentioned below:
US Federal Reserve policy and statements: Due to the US Federal Reserve Chairman’s strict remarks on inflation control and forecasts regarding a future increase in the Interest Rate, the value of the dollar strengthened. As a result, investors turned away from gold, leading to the price drop.
Strength of the US dollar: The rise of the US dollar index and Treasury bond yields in the global market put pressure on gold in the international market.
Impact on the local market (Bangladesh): Due to the effect from the international market and the decrease in the price of pure (tejabi) gold in the local market, the Bangladesh Jewelers Association reduced the per-baht price of 22-carat gold by 7,109 taka.
In the last trading day of the week in the global market, the price of gold in the international market fell by more than 3% in a single day. The main reasons for this decline are mentioned below:
US Federal Reserve policy and statements: Due to the US Federal Reserve Chairman’s strict remarks on inflation control and forecasts regarding a future increase in the Interest Rate, the value of the dollar strengthened. As a result, investors turned away from gold, leading to the price drop.
Strength of the US dollar: The rise of the US dollar index and Treasury bond yields in the global market put pressure on gold in the international market.
Impact on the local market (Bangladesh): Due to the effect from the international market and the decrease in the price of pure (tejabi) gold in the local market, the Bangladesh Jewelers Association reduced the per-baht price of 22-carat gold by 7,109 taka.