Gold Prices Surge to Historic Highs, Shattering All Previous Records

After a brief period of correction, global gold prices have staged a dramatic comeback, soaring to unprecedented levels and breaking every previous record. The latest rally has pushed the precious metal to its highest price in history, while silver has also followed suit, touching a new all-time high. The sharp rise has reignited global attention on safe-haven assets amid mounting geopolitical and trade-related uncertainties.

Market analysts attribute the sudden surge largely to escalating tensions sparked by recent statements from US President Donald Trump. His threat to impose fresh tariffs on several leading European nations has unsettled global financial markets, prompting investors to move away from riskier assets and seek refuge in gold and silver.

On Monday, 19 January, trading on the US spot market saw gold prices climb sharply during the session, reaching a historic peak of $4,690.59 per ounce. At the same time, silver prices surged to $94.12 per ounce—the highest level ever recorded. For reference, one ounce of silver is equivalent to approximately 2.43 bhori, a traditional South Asian unit of weight.

The backdrop to this market turbulence lies in developments earlier in the week. On Saturday, 17 January, President Trump announced plans to impose additional tariffs on imports from several European allies following their opposition to his proposal to bring Greenland—an autonomous territory of Denmark—under US control. The countries affected include the United Kingdom, France, Germany, Denmark, Norway, Sweden, the Netherlands and Finland. According to the announcement, all goods imported from these nations will face an additional 10 per cent tariff from 1 February.

In a strongly worded social media post, President Trump warned that tariff rates would continue to rise incrementally unless the United States is granted permission to acquire Greenland. The statement has intensified fears of a renewed trade war between major Western economies, fuelling volatility across global markets.

In response to this uncertainty, investors worldwide have turned decisively towards traditional safe-haven assets. The trend was evident from the opening of Asian markets, where demand for gold and silver surged sharply. Analysts note that concerns over tariffs, trade disruptions and geopolitical friction have driven investors away from equities and other high-risk instruments.

Latest Global Market Prices

The international rally has already had a significant impact on domestic markets. In Bangladesh, gold is currently trading at its highest price on record. Since 15 January, the price of 22-carat gold has been set at BDT 234,680 per bhori (11.664 grams).

Current Gold Prices in Bangladesh

Current Silver Prices in Bangladesh

With global prices continuing to climb, market experts warn that further increases in domestic gold and silver prices are likely. If the current momentum persists, Bangladesh may soon witness yet another historic record in precious metal pricing, reflecting the growing influence of global political developments on local markets.