A big fall in the price of gold in the world market

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News desk:The price of gold has fallen in the global market amid geopolitical instability. The price of the precious metal fell to a one-month low. Gold prices fell on fears that the US central bank, the Federal Reserve (Fed), could keep interest rates high for a longer period of time, and caution among investors over rising inflation concerns.

The news agency Reuters reported that on Wednesday (March 18), spot gold prices fell 2 percent to $4,903.19 per ounce. Which is the lowest since last February 18. At the same time, US gold futures for April delivery fell 2 percent to $4,907.40.

Market analysts say high fuel prices have created fears that interest rates will remain high for a long time. This reduces the attractiveness of gold as an interest-free asset. Investors are flocking to interest-bearing assets due to high interest rates.

Investors are concerned that interest rates will remain high for a long time due to high fuel prices, said Jamie Dutta, market analyst at Nemo.Money. As the Iran conflict drags on, this situation is likely to escalate, making gold less attractive.