The upward trend in global gold prices is impacting the domestic market in Bangladesh. From Thursday morning, the price of gold has surpassed Tk 286,000 per bhori, marking a record high in the country’s history.
According to the Bangladesh Jewellers’ Association (BAJUS), the new local price became effective at 10:15 AM, with one bhori (11.664 grams) of high-quality 22-carat gold now selling at Tk 286,001.
BAJUS had set the price at Tk 269,788 per bhori yesterday, while the previous rate was Tk 262,440, meaning the price has risen Tk 23,561 since the beginning of January. Compared to yesterday, it has increased Tk 16,213 in just one day.
A Reuters report notes that geopolitical and economic uncertainties are driving investors toward gold as a safe haven. As a result, global gold prices reached nearly $5,600 per ounce, setting a new record.
This morning, spot gold rose 2.6% to $5,538.69 per ounce, after earlier reaching a record $5,591.61 per ounce. (One ounce equals 28.35 grams.)
Edward Moyer, an analyst at Marex, said: “Rising US debt and the shift of global trade from a US-centric model to regional blocs are creating uncertainty for investors, which is why they are turning to gold.”
