Gold price drops Tk 2,158 amid global downtrend

Gold prices in Bangladesh have been reduced by Tk 2,158 per bhori following a continued downturn in the international bullion market, according to the Bangladesh Jewellers Association (BAJUS). The revised prices took effect on Sunday (May 24), after global gold rates fell for a second consecutive week amid expectations of tighter monetary policy in the United States.

The price adjustment comes as global spot gold declined 0.6% to $4,515.83 per ounce on May 22, while U.S. gold futures also slipped. Analysts link the fall to rising crude oil prices, renewed inflation concerns, and expectations that the U.S. Federal Reserve may raise interest rates further, reducing demand for non-yielding assets like gold.

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In Bangladesh, BAJUS lowered the price of 22-carat gold to Tk 235,963 per bhori. Other categories were also revised downward, while silver prices remained unchanged. The decision follows frequent price volatility, with gold rates adjusted 68 times so far this year.

Global market uncertainty, including geopolitical tensions and rising U.S. bond yields, has further pressured precious metal prices worldwide.