A significant drop in Gold prices in the global bullion market was recorded as spot gold reached a one-week low after a 0.4% decline.
A downward trend in gold prices is being seen in the global market, where gold reached a one-week low on Thursday. According to experts, oil prices have increased due to rising tensions between the US and Iran, which has raised fears of inflation and interest rate hikes again.
The price of spot gold in the global market fell by 0.4% to $4,060.46 per ounce, while the price of US gold futures was also recorded at $4,069.80 per ounce after a 0.3% decline.
According to reports, uncertainty has arisen in global financial markets after the US announced new attacks on Iran and increasing tensions in the region. On the other hand, oil prices also recorded an increase, which has once again drawn investors’ attention to inflation and interest rate concerns.
The Bank of America has also reduced its estimate of the average price of gold for 2026 to $ 4,360 per ounce, which is attributed to tight US monetary policy.
On the other hand, the price of silver fell by 0.9 percent and came to $ 57.77 per ounce, while the prices of platinum and palladium saw a slight increase.
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