Big fall in gold prices in global market

At 7:01 pm Bangladesh time on Friday, gold prices in the spot market fell 2.2 percent to $4,376.4 per ounce. At the same time, December US gold futures fell 2.4 percent to $4,428.80.

According to market analysts, the strong position of the US labor market has increased the likelihood of the Federal Reserve raising interest rates. If interest rates rise, gold's appeal as a non-interest-bearing asset is expected to decline, putting pressure on its price.

Meanwhile, prices of other precious metals also fell. Silver prices fell 3 percent, platinum 2 percent, and palladium 1.7 percent.

Currently, the price of 22-carat gold per vori has been fixed at Tk 237,362 in the domestic market.