Gold prices rose in the global market.

Bangla Press Desk: Gold prices rebounded slightly on Thursday after dropping to a two-month low in the previous session. Investors are analyzing policymakers' stances on interest rates following the release of the minutes from the US Federal Reserve's September meeting.
On the day, the price of spot gold in the international market rose by 0.3 percent to $4,122.99 per ounce. Previously, on Wednesday, gold prices had fallen to their lowest level since August 5, as a strong dollar and high US Treasury bond yields exerted downward pressure on prices.
Meanwhile, US gold futures for December delivery rose 0.18 percent to stand at $4,147.90 per ounce.
The minutes from the Fed's September meeting revealed a difference of opinion among policymakers regarding the justification for raising interest rates. Some officials believe rate hikes are necessary to contain the impact of price shocks in energy and other commodities. However, officials favoring a relatively hawkish stance argue that raising rates is also crucial to curb the risk of demand-driven inflation.
According to data from the CME FedWatch Tool, the market currently assigns a probability of only 21.6 percent for an interest rate hike in October. However, there is an 85 percent probability factored in for a rate hike in December.
Generally, when interest rates rise, the appeal of gold—a non-interest-bearing asset—diminishes. Consequently, the Fed's future interest rate policy has become a critical factor for the gold market.
Lukman Otunuga, a senior research analyst at FXTM, stated that gold prices are fluctuating above the $4,100 mark as geopolitical tensions heighten inflation concerns. However, a strong dollar and high Treasury bond yields could exert further pressure on gold prices.
He added that there are also downside risks to gold prices from a technical perspective; if the price falls sustainably below $4,100, it could drift towards the $4,000 level. On the other hand, if it can maintain its position above $4,100, it could pave the way for a rebound towards $4,200.
Meanwhile, fresh concerns have arisen regarding the geopolitical situation. Since the outbreak of the conflict in the Middle East, shipping traffic through the vital Strait of Hormuz dropped to its lowest level last week. Shipping data indicates that this decline in traffic followed a surge in tanker attacks in the waterway—reaching a peak last week—since the conflict began.
Among other precious metals, the spot price of silver fell by 2.2 percent to $58.8476 per ounce. However, the price of platinum rose by 1.6 percent to $1,656.88, and palladium increased by 0.8 percent to $1,133.65. Source: Reuters
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