Md Tarek Hossain: After a brief reduction, gold prices in Bangladesh have once again been increased. The Bangladesh Jewellers Association (BAJUS) announced that the new rates, effective from 6 May, set the price of 22-carat gold at Tk 171,286 per bhori, marking a rise of Tk 2,310 from the previous day.
In a press release, BAJUS stated that the price adjustment was made considering the increase in the cost of pure gold (tejabi gold) in the local market.
As per the new pricing structure, 21-carat gold will be sold at Tk 163,494 per bhori, 18-carat at Tk 140,143, and traditional method gold at Tk 115,905 per bhori. Meanwhile, silver prices remain unchanged. The price of 22-carat silver is Tk 2,846 per bhori, 21-carat at Tk 2,718, 18-carat at Tk 2,333, and silver processed using traditional methods is priced at Tk 1,750 per bhori.
Gold prices in the country have fluctuated several times recently, including cuts during the Bengali New Year, followed by multiple hikes and reductions.
Globally, gold prices have also seen a notable increase, with the international rate rising by 2.5% to reach $3,317 per ounce. This spike comes amid a weakening US dollar and rising geopolitical tensions, including Houthi attacks near Israeli airports and intensified ground operations in Gaza.
Additionally, concerns over US monetary policy and President Donald Trump's strained relationship with Federal Reserve Chair Jerome Powell have added to the volatility. Trump's recent comments urging rate cuts and his dissatisfaction with Powell may influence gold market trends.