The gold market in Bangladesh has turned volatile once again, mirroring sharp movements in the global market. Just a day after prices declined, gold rates in the country rebounded significantly as the Bangladesh Jewellers Association (BAJUS) announced a fresh price hike.
According to BAJUS, the adjustment was made due to rising prices of pure gold in the local market. The new rates will come into effect from Thursday.
Under the revised pricing, 22-carat gold will now cost Tk244,711 per bhori (11.664 grams). Meanwhile, 21-carat gold has been priced at Tk231,472 per bhori, 18-carat gold at Tk198,405, and traditional-method gold at Tk161,605 per bhori.
The surge is not limited to Bangladesh alone. Global gold prices also witnessed a strong rally on Wednesday. Spot gold jumped 3.2 percent to $4,703.09 per ounce, while US gold futures for June delivery rose 3.2 percent to $4,714 per ounce.
Market analysts believe the upward trend may continue throughout the year. Speaking to Reuters, ActivTrades analyst Ricardo Evangelista said gold prices could climb close to $5,500 per ounce by the end of 2026 if geopolitical conditions in the Gulf stabilize further.
Global investors are increasingly turning to gold as expectations grow for lower interest rates in the United States. Declining oil and dollar prices, alongside easing inflationary pressure following signs of a possible US-Iran peace agreement, have also boosted demand for the precious metal.
Industry insiders say continued uncertainty in international markets is likely to keep gold prices elevated in the coming months.
bd-pratidin/GR
