Gold Prices Drop Again in Bangladesh Market

The Bangladesh Jewellers' Association (BAJUS) has announced another significant reduction in gold prices in the domestic market. Within a span of 24 hours, the price of the precious metal has dropped by up to 4,374 BDT per bhori. Consequently, the price of high-quality 22-carat gold now stands at 2,38,121 BDT per bhori.

BAJUS confirmed the development in a press release issued on Saturday (May 16) morning, stating that the revised rates came into effect at 10:00 AM on the same day. Prior to this adjustment, 22-carat gold was retailing at 2,42,495 BDT per bhori. According to the trade body, the local price adjustment follows a downward trend in the price of pure gold in the local bullion market.

Under the newly determined tariff, 22-carat gold is priced at 2,38,121 BDT per bhori, while 21-carat gold will cost 2,27,331 BDT per bhori. For 18-carat gold, the new price is set at 1,94,847 BDT per bhori, and gold acquired through the traditional system will sell for 1,58,689 BDT per bhori.

Alongside gold, silver prices have also experienced a decline. The newly fixed price for 22-carat silver stands at 5,657 BDT per bhori. Meanwhile, 21-carat silver is priced at 5,365 BDT per bhori, 18-carat silver at 4,607 BDT per bhori, and traditional silver will be traded at 3,741 BDT per bhori.

Market insiders noted that global precious metal prices had been on a steep upward trajectory following geopolitical escalations involving Iran, the United States, and Israel. The recent fluctuations in the international market have prompted successive price corrections in the local sector. According to the global precious metals tracking portal Goldprice.org, the price of gold in the international market has recently eased, settling around 4,600 USD per ounce.