Gold Prices Drop Sharply in Global Market, Will It Fall in Bangladesh Too?

Gold prices have seen a significant decline in the international market. On Sunday (March 22), prices dropped by around 2.36 percent in a single day, according to the global gold and silver price tracking website GoldPrice.

The latest data shows that the price of gold fell by $108.83 per ounce, bringing it down to $4,494 in the global market.

Following this decline, there is growing speculation that gold prices in Bangladesh may also decrease.

According to sources from the Bangladesh Jewellers Association (BAJUS), changes in the international market usually impact the local market. Therefore, gold prices in the country may be reduced at any time.

Earlier, on Thursday (March 19), BAJUS announced a decrease in gold prices. On that day, the price per bhori (11.664 grams) was reduced by Tk 7,698.

In its statement, BAJUS said that the prices of pure gold and silver in the local market had declined, leading to a revision of gold prices considering the overall situation. The new rates came into effect from 3:45 PM that day.

According to the latest rates, the price of 22-carat gold now stands at Tk 246,927 per bhori. In addition, 21-carat gold is priced at Tk 235,671 per bhori, 18-carat gold at Tk 202,020 per bhori, and traditional method gold at Tk 164,521 per bhori.

Overall, if the downward trend continues in the global market, consumers in Bangladesh may see further relief in gold prices in the coming days.