Gold prices rise in the global market.

Bangla Press Desk: Gold prices rose in the global market on Monday (October 12) due to a slight decline in the dollar's value and a drop in oil prices. Meanwhile, investors are awaiting US inflation data this week to gain insight into the Federal Reserve's policy moves.
As of 8:53 AM Bangladesh time on Monday, spot gold prices had risen 0.3 percent to $4,206 per ounce, according to Reuters.
Earlier in the day, the price had reached its highest level since October 2. US gold futures for December delivery rose 0.3 percent to $4,230.
Tim Waterer, Chief Market Analyst at KCM Trade, said, "Gold prices have found room to rise due to the energy truce announced by Donald Trump regarding the Russia-Ukraine war and a slight dip in the dollar's value."
He added, "The drop in oil prices has eased immediate market concerns regarding inflation and interest rates, which is positive for gold in terms of investment returns."
On Sunday, US President Donald Trump made a surprise announcement regarding an energy-related truce between Russia and Ukraine, stating it would take effect immediately. However, Ukrainian President Volodymyr Zelenskyy indicated he was still awaiting details of the agreement. Oil prices fell amid expectations of increased oil supplies from Russia.
While gold is generally considered a hedge against inflation, the precious metal—which yields no interest or dividends—tends to lose its appeal when interest rates rise.
Market participants are now awaiting the US Consumer Price Index (CPI) report due on Wednesday. This will be followed by the release of the Producer Price Index (PPI) and retail sales data on Thursday. According to data from CME's FedWatch Tool, traders estimate a 17% probability of an interest rate hike in October and an 86% probability of one by December.
Meanwhile, public sentiment regarding the economy has turned negative due to the rising cost of living driven by the conflict in the Middle East, causing the US consumer confidence index to decline further in early October.
Among other metals, the spot price of silver rose 0.5% to $61.12 per ounce. Platinum prices increased by 1% to $1,704.70, while palladium prices climbed 1.2% to $1,161.81.
BP/TD