Spot gold was up 1.3 per cent at $2,620.63 per ounce by 1:43 p.m. ET (1743 GMT), while U.S. gold futures settled 1.2 per cent higher to $2,646.20, according to media reports.

Oil prices are expected to gain during the week ending Sept. 20 despite a fall on Friday following the US Federal Reserve’s 50-basis-point rate cut on Wednesday.

The International benchmark Brent crude traded at $74.58 per barrel at 2.01 p.m. local time (1101 GMT) on Friday, up by around 4.14 per cent relative to the closing price of $71.61 a barrel last week.

West Texas Intermediate (WTI), the American benchmark, traded at $70.89 a barrel at the same time on Friday, an increase of about 4.63 per cent from last Friday's session, which closed at $67.75 per barrel.

Oil price gains were limited by rising demand concerns after weekend data from China revealed economic weakness in the world’s biggest oil importer. August figures showed industrial production falling short of expectations, alongside increasing unemployment and further declines in house prices, casting doubt on future oil demand.

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Agricultural prices declined by 1.40 per cent in August. Food prices fell by 2.30 per cent, driven by oils and meals dropped by 5.10 per cent.

On the other hand, raw materials gained by 1.80 per cent, while beverages dipped by 1.20 per cent. Fertilizer prices remained relatively stable.

However, metal prices dropped by 3.10 per cent, led by iron ore fell by 6.50 per cent, lead dropped by 5.30 per cent, and copper decreased by 4.40 per cent.  Precious metals rose by 1.80 per cent, with gold rose by 3.0 per cent leading the increase.

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According to Gold Return Attribution Model (GRAM), gold was pulled higher by a material drop in the US dollar and, to a lesser extent, lower 10-year Treasury yields as the Fed signalled the time had come for rate cuts, the World Gold Council said in its latest monthly market report.   

The main identifiable negative contribution came from a momentum factor, the gold return in the previous month, i.e. when high, the following month typically sees a lower return and vice versa.

Also of note in August, the significant cut in import duty on gold in India, which took place in late July, has been a shot in the arm for gold demand in the country. Anecdotal reports suggest the duty reduction was followed by strong buying interest from jewellery retailers as well as consumers.

Meanwhile, global physically-backed gold ETFs extended their inflow streak to four months. Western funds once again contributed the lion’s share of flows.

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Dhaka, Bangladesh (BBN)- Oil prices rose nearly 3.0 per cent on Monday, spurred by hope of an interest rate cut by the US Federal Reserve along with a prolonged blockade in cease-fire negotiations in the Middle East.

Brent crude futures climbed $2.30, or 2.91per cent, to $81.32 a barrel by 1148 GMT, while U.S. crude futures were at $77.05 a barrel, up $2.22, or 2.97 per cent.

Brent's intra-day high of $81.35 a barrel is the highest the contract has traded in 11 days, according to global media reports.

US Federal Reserve Chair Jerome Powell on Friday signaled an interest rate cut at the central bank's upcoming meeting in September. Commodity prices increased after Powell's much-anticipated speech at the annual Jackson Hole symposium in the US state of Wyoming.

A reduction in interest rates in the US, the world's largest oil consuming country, is expected to increase economic activity and raise oil demand.

Fed Chair Powell said his confidence has grown that inflation is on a sustainable path back to 2.0 per cent, saying "time has come" for an adjustment in monetary policy.

Analysts are certain that the Fed will cut interest rates by 25 basis points next month, while the possibility of a 50 basis point cut is also on the table.

The unsuccessful cease-fire negotiations in the Middle East, home to a vast majority of global oil reserves, contributed to price increases and heightened supply concerns among market players.

Despite international ceasefire negotiations, Israel hasn't slowed its attacks on the blockaded Gaza Strip. Since Oct. 7, 2023, the Israeli onslaught has resulted in over 40,400 Palestinian deaths, mostly women and children, and over 93,000 injuries, according to local health authorities.

The latest round of cease-fire talks ended in Cairo on Sunday without an agreement. The Palestinian group Hamas demanded Israel adhere to what was agreed upon on July 2, in accordance with a proposal by US President Joe Biden laid out on May 31 and a UN Security Council resolution.

On the other hand, gold prices rose to record highs last week, with the spot price reaching $2,531.60 per troy ounce on Tuesday – a 20 per cent year-to-date rise.

Hopes that the US will start easing monetary policy helped push the price of the precious metal higher, while the increase in value also likely reflects global economic uncertainty and market volatility - investors typically view gold as something of a safe haven during periods of uncertainty.

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Investors are eagerly awaiting key economic indicators, including the first reading of the US S&P Global Purchasing Managers Index (PMI) and a speech from Fed Chair Jerome Powell later this week, which could provide further direction for the precious metal.

On Friday, gold prices surged to an all-time high as the market increased bets on a September rate cut by the Fed.

On the other hand, oil prices experienced a decline of approximately 2.0 per cent at the close of trading on Friday, with brent crude dropping below US$80 per barrel.

Brent crude futures dropped 13 cents, or 0.2 per cent, to $79.55 per barrel by 0032 GMT. US West Texas Intermediate crude futures slid 13 cents, or 0.2 per cent, to $76.52 a barrel.

The decline in oil prices was influenced by lower expectations for demand growth from China, the world's largest oil importer. Recent data from China indicated a slowdown in economic activity in July, with new home prices dropping at their fastest rate in nine years, slower industrial production, and a rising unemployment rate.

This has heightened concerns about reduced oil demand as Chinese refineries significantly cut crude throughput due to decreased fuel consumption, according to global media report.

Besides, both OPEC and the International Energy Agency (IEA) have adjusted their forecasts downward, citing weak demand prospects in China.

Despite a brief rise in oil prices earlier in the week due to speculation over potential Iranian retaliation following the assassination of Hamas leader Ismail Haniyeh, the market remains cautious. Ongoing ceasefire talks in Gaza, which began in Qatar, will be paused until next week, adding further uncertainty to the global oil market.

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Dhaka, Bangladesh (BBN) - Energy prices gained 2.10 per cent in July, with crude leading the increase 2.50 per cent while non-energy prices fell by 2.30 per cent, according to the World Bank's latest commodity report.

Agricultural prices declined 2.0 per cent in July. Food prices eased by 1.10 per cent, driven by grains decreased by5.70 per cent. Raw materials dipped by 0.60 per cent while beverages declined by 5.60 per cent. Fertilizer prices increased by 1.80 per cent.

Metal prices dropped by 3.40 per cent, led by nickel dropped by 6.60 per cent, aluminum fell by 5.90 per cent, and copper eased by 2.70 per cent.

On the other hand, precious metals rose by 2.70 per cent, with gold price hiked by 3.10 per cent and silver gained 0.70 per cent leading the increase.

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Dhaka, Bangladesh (BBN)

The prices of per kg local onion is at BDT 70-80 today while it was at BDT 70-75 in the previous working day, according to latest data provided by the state-run Trading Corporation of Bangladesh (TCB).

The prices of other essential items however remained almost unchanged at different kitchen markets in Dhaka on Wednesday, the TCB data showed.

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Dhaka, Bangladesh (BBN)

The prices of per kg local onion is at BDT 70-75 today while it was at BDT 65-75 in the previous working day, according to latest data provided by the state-run Trading Corporation of Bangladesh (TCB).

The prices of other essential items however remained almost unchanged at different kitchen markets in Dhaka on Tuesday, the TCB data showed.

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Dhaka, Bangladesh (BBN) – The prices of onion decreased slightly on Wednesday in the capital Dhaka due to smooth supply of the essential in the market.

The onion prices turned down both in local and import levels, traders said.

The prices of per kg local onion came down to BDT 80-85 on Wednesday from BDT 80-90 of the previous level, according to latest data provided by the state-run Trading Corporation of Bangladesh (TCB).

On the other hand, imported onion at traded BDT 60-BDT 65 on the day against BDT 60-BDT 70 of the previous working day.

The prices of other essential items, however, remained almost unchanged at different kitchen markets in Dhaka on Wednesday, the TCB data showed.
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Dhaka, Bangladesh (BBN) – The prices of garlic and lentil decreased slightly on Sunday in Dhaka due to smooth supply of the essentials in the market.

The garlic prices turned down both in local and import levels.

The prices of per kg local garlic was at BDT 60-80 on Saturday while came down to BDT 60-70 today, according to latest data provided by the state-run Trading Corporation of Bangladesh (TCB).

On the other hand, imported garlic was at BDT 80-100 in the previous working day and it reduced to BDT 70-90 today, the data added.

The prices of lentil however decreased slightly and reached at BDT 60-120 today from BDT 65-130 of the previous working day, the TCB data showed.

The prices of other essential items however remained almost unchanged at different kitchen markets in Dhaka on Sunday, the TCB data showed.

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