Gold prices have fallen sharply in the global market. Rising fuel oil prices have created fresh concerns about inflation; this has had a negative impact on the gold market amid fears that the Federal Reserve may keep interest rates high for an extended period.
According to a Reuters report, at 11:01 am Bangladesh time on Friday, the price of gold in the spot market fell by 1.1 percent to $4,044.09 per ounce. In the United States, the December delivery futures price fell by 1.5 percent to $4,053.30.
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Goldman Sachs has cut its potential gold price forecast for the end of 2026 from $4,650 per ounce to $4,150 per ounce. Along with gold, the prices of silver, platinum, and palladium also fell.
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