Gold prices now lowest in 9 months

Staff Correspondent: Gold prices have declined in the global market due to the rise in the value of the dollar – which is the lowest in 9 months.
The incident of declining gold prices took place on Tuesday. In such a situation, investors are waiting for the release of US inflation data. This is expected to encourage the Federal Reserve Bank to tighten its aggressive monetary policy.
“Gold prices declined 0.3 percent in the spot market on Tuesday,” the report said. The price per ounce is fixed at $1,728.52 (Tk 1,61,372.28 in Bangladeshi currency).
Earlier, the metal declined to $1,722.36 – the lowest since September 30 last year.
Analysts believe that the price of gold per ounce in the spot market could fall to $1,721. New York Mercantile Exchange (NYMEX), on the other hand, the import price of gold has fallen to 0.3 percent. The price per ounce has been fixed at $1,727.20 dollars.