Gold price increases to $2,400 per ounce

Gold is creating one record after another in the world market as the price of this precious metal is constantly increasing.
Gold price surpassed $2,400 per ounce for the first time in history on Friday (April 12) in intraday trading at the New York Mercantile Exchange (NIMEX). However, due to the strong position of the dollar in the currency market, the market corrected at one point and fell to $2,342.90 per ounce. In total, the price of gold rose by 59 percent last week.
The possibility of the Federal Reserve (Fed) reducing interest rates and the fear of a possible conflict between Iran and Israel have become the biggest influence on the international gold market at the moment. Experts believe that the current situation of international geopolitics has created a kind of uncertainty over the global economy. In this situation, the demand for gold as an emergency investment has been continuously increasing.
Meanwhile, Bangladesh Jewelers Association (Bajus) increased the price of gold in the country's market on April 8. According to a press release issued by Bajus, the price of per bhori of 22 carat gold has been increased by Tk 1,750 to Tk 1,17,573, the highest in the history of the country. Besides, Bajus has fixed the price of per bhori of 21 carat gold at Tk 1,12,208, 18 carat at Tk 96,228 and per bhori of traditional method gold at Tk 80,190.