Global Gold Prices Drop Amid Dollar Strength

Gold prices have seen a significant decline globally and in domestic markets due to a strengthening US dollar and weak demand post-festive season. In Bangladesh, gold prices were reduced by Tk2,520 per bhori due to a local market dip. In India, gold fell ₹1,750 to ₹77,800 per 10 grams, influenced by weak jeweller demand and global cues. The UAE also reported a price decrease to Dh295 per gram for 22K gold amid dollar strength, following Donald Trump's US presidential election victory. The strengthening dollar has made gold less attractive for non-dollar buyers, contributing to a 2% drop in gold prices. Despite the drop, analysts expect short-term volatility as markets await US inflation data and Federal Reserve commentary.