The experts predicted the price of gold this time
International Desk: The price of gold is increasing by leaps and bounds in the world market. For the first time in history, the price of an ounce of gold exceeded $2,330. Due to this, the price of gold in the country’s market has also made history. Experts believe that the price will increase further in the future.
Gold is another name for abundance since ancient times. It is said to be the most permanent form of money. For thousands of years, the eye-catching brilliance, luster and luster of this precious metal have been mesmerizing people. Maybe that’s why its value never went down to zero. Rather, its value is increasing day by day.
On Saturday (April 6), the highest price of one ounce of gold rose to 2 thousand 330.20 dollars at one stage of trading in the world market. At the time of writing the report on Sunday (April 7), the price of gold in the spot market is at 2 thousand 329.20 dollars. The price of gold per ounce increased by 38.50 dollars or 1.68 percent in one day in the world market.
Meanwhile, on Saturday, the price of 22 carat gold has been increased by Tk 1,750 to Tk 1,15,824. Which is the highest in the history of Bangladesh. Bangladesh Jewelers Association (BAJUS) said that the price of pure gold has increased in the local market. As a result, the new price of gold has been fixed considering the overall situation.
Analysts say that the US central bank Federal Reserve Chairman Jerome Powell has indicated that interest rates will be cut, so the price of gold is increasing. Apart from geopolitical reasons, people are turning to gold as a safe investment medium. Gold prices were expected to exceed $2,300 per ounce this year. It has already been surpassed. The price will increase in the future.
Bajus Standing Committee on Pricing and Price Monitoring Chairman and Bajus Vice-President Masudur Rahman said that there is currently a problem of global inflation. Which can be one of the reasons behind the increase in the price of gold. Basically, when inflation increases, the value of money decreases. Then investment in gold increases.
Masudur Rahman also said that when the Federal Reserve of the United States raises the interest rate, the price of gold falls. Because people lean towards the dollar. The Federal Reserve has signaled interest rate cuts. If the interest rate decreases, the price of gold will increase in the world market. Then there will be a need for price adjustments in the country’s market as well.
Apart from this, Masudur Rahman said that due to geopolitical tensions, investors are now turning to gold, and the central banks of different countries in the world are now giving preference to gold reserves instead of dollars. The demand for gold is increasing. And increasing demand affects the price.
Economist Mahfuz Kabir said that gold is now being sold at the highest price in the world market. The price may increase in the future. And due to this, the price will increase in the country’s market.
He said that gold is increasing in the world market mainly due to the Federal Reserve’s indication of interest rate reduction and the effect of geopolitical tension. As a result, the price increases. Mahfuz Kabir said that if the price is increased in the global market, it becomes necessary to adjust the price in the domestic market, if the price is not adjusted, the low-priced gold can be smuggled to neighboring countries where the price of gold is high.
