Key highlights:
Md Tarek Hossain: Gold has once again struck an all-time high in Bangladesh, with the price of 22-carat gold climbing to Tk 185,947 per bhori (11.664 grams). The Bangladesh Jewellers’ Association (BAJUS) announced the latest increase on Tuesday, marking the sixth hike in barely two weeks.
The surge mirrors global trends, where uncertainty in financial markets and geopolitical tensions have kept investors piling into bullion as a haven. Internationally, gold has hovered near historic highs, fuelled by expectations of prolonged US interest rate cuts, concerns over energy prices, and geopolitical flashpoints ranging from Ukraine to the South China Sea, and the Middle East tension.
In Bangladesh, however, the rise has been sharper than in many other markets. Analysts attribute this to a weakening Tk, higher import costs, and persistent volatility in the dollar rate. “When the exchange rate is unstable, the impact on bullion is immediate,” said one Dhaka-based economist. “The result is a double hit for consumers: global price rises compounded by local currency weakness.”
Traditionally, gold in Bangladesh is more than just a commodity — it is a store of value, a cultural necessity for weddings, and a symbol of security for middle-class families. The relentless climb in prices has left many households reconsidering long-standing practices.
Jewellery traders, meanwhile, are caught in a bind. “Sales are slowing down, but prices are going up almost every week,” one shop owner in Dhaka’s Baitul Mukarram market told. “Customers are walking in, looking, and leaving without buying. We are worried about the coming wedding season.”
Economists warn that the soaring gold price is also a reflection of waning confidence in other investment avenues. With inflation stubbornly high and real estate sluggish, many savers are retreating into bullion, further stoking demand.
At the same time, the widening gap between incomes and asset prices is fuelling inequality. While wealthier households may continue to buy, the majority are being priced out of a market long considered essential for social traditions.
Not all metals are following gold’s trajectory. Silver prices have remained flat, with 22-carat silver selling at Tk 2,811 per bhori. But few see this as much comfort, since silver has never carried the same cultural or financial weight as gold in Bangladesh.
For now, all eyes remain on the global economy. Any easing of geopolitical tensions or strengthening of the Tk could provide relief. But traders are cautious. “Every time we think the price has peaked, it climbs again,” said a senior jeweller. “The question now is not whether it will go higher, but how fast.”
