Gold prices rebound from decline, see another big rise in global markets

Gold prices rebound from decline and surge again in global markets After hitting a record high in the global market, the price of gold suddenly fell. However, after rebounding from there, the precious metal market has seen a major upward trend again. As a result, the price of gold in the international market has increased by more than 3 percent. According to a report by the news agency Reuters, the price of gold in the spot market rose by 3.7 percent to $4,837.16 per ounce on Tuesday (February 3). And US gold futures for delivery in April also rose by 4.5 percent to $4,859.30 per ounce. Several political and economic factors are mainly behind this increase in the price of gold. Market participants say that investors are turning to gold as a safe haven investment as uncertainty over the release of important economic data due to the partial shutdown of the US government has created uncertainty. US government shutdown: The government has been partially shut down since last Saturday due to the failure of the US House of Representatives to approve a spending package. As a result, the Bureau of Labor Statistics said that it would not be possible to publish the important employment report due on Friday this week on time. This absence of data has created instability in the market. Expectations of interest rate cuts: Investors expect the Federal Reserve to cut interest rates at least twice in 2026. Generally, when interest rates decrease, the demand and price of gold increases. Dollar impact: Although the strong position of the dollar is making it somewhat expensive for buyers of other currencies to buy gold, concerns about the government shutdown have kept gold prices high. Donald Trump's new trade deal Meanwhile, US President Donald Trump has announced a major trade deal with India. Under this deal, US tariffs on Indian goods will be reduced from 50 percent to 18 percent. In return, India will stop buying oil from Russia and remove other trade barriers. This change in international geopolitics has also caught the attention of investors. House Speaker Mike Johnson, however, expressed hope that the shutdown problem will be resolved in the next few days and the government will return to normal operations. Earlier, on February 2, the price of gold in the global market fell below $ 4,484. And on January 29, the price reached a record $ 5,594.82. On the other hand, the price of spot silver in the global market increased by 5.9 percent to $ 84.09 per ounce. The price of spot platinum increased by 3 percent to $ 2,183.64 and the price of palladium increased by 2.7 percent to $ 1,765.75.