Desk Report,
Gold prices fall slightly in global markets, impact of profit-taking
The price of gold in the global market fell slightly on Monday. The price of gold had increased significantly in last week’s trading. This increased the tendency of investors to take profits. In this context, the price of gold in the spot market fell slightly yesterday.
Gold prices fall slightly in global markets, impact of profit-taking
On the other hand, the increase in interest rates on Treasury bonds in the United States also played a role in the decline in the price of this precious metal, according to Reuters news. The price of gold in the spot market fell by 1 percent yesterday. The price per ounce stood at $3,359.99 cents. However, at this time, the price of the precious metal in the US futures market rose by 0.4 percent to $3,413.40 cents per ounce. Ole Hansen, Head of Commodity Strategist at Saxo Bank, said, “This decline is normal after the price of gold in the market rose significantly last Friday. Meanwhile, interest rates have increased slightly and the stock market has turned around.” He also said that currently the price of gold in the market is fluctuating within a limited range. However, if the price of the precious metal exceeds $3,430 per ounce, then the buying trend among investors will increase. This may lead to a new increase in the price of gold.
Among other precious metals, the price of silver increased by 0.9 percent in the spot market yesterday. The price per ounce reached $37.34. The price of platinum increased by 0.4 percent to $1,320.19. The price of palladium decreased by 0.2 percent yesterday. The price per ounce is $1,205.93.
Meanwhile, Citigroup has revised its forecast for the price of gold. In a report published yesterday, the bank said that the price of gold could rise to $3,500 per ounce in the next three months. The previous estimate was $3,300 per ounce.
Industry insiders said that the estimate for the price of gold has been revised due to weak forecasts for US economic growth and inflation. Citigroup says that US growth and tariff-related inflation will remain on the rise throughout the second half of 2025. In addition, the price of gold could reach a new record high due to the decline in the dollar exchange rate.
The price of gold in the global market has increased by up to 26 percent this year. The World Gold Council says that the price of gold will remain high this year. In a recently published report, the WGC said that the reasons behind the increase in the price of gold in the first half of this year are the decline in the dollar exchange rate, geopolitical tensions, investor demand and increased gold purchases by central banks. If economic and political instability, especially the risk of stagnation or recession, increases, the demand for this metal may increase further in the future.
Gold is considered the most stable and reliable commodity in the world. It is said that only the price of gold usually does not show major volatility. It can be said that there is no fear of loss if you buy gold. That is why everyone is so attracted to gold. Even if someone bought gold 50 years ago, it is considered a good investment. The stock market, the dollar, or anything else does not guarantee this. make
