Gold Prices Surge Again Within Hours

Gold prices in Bangladesh have once again witnessed a sharp upward revision within a mere six-hour interval, reflecting continued volatility in both domestic and international bullion markets. The Bangladesh Jewellers Association (BAJUS) announced on Saturday (28 March) that the price of 22-carat gold has been increased by Tk 4,433 per bhori, setting the new rate at Tk 241,445.

According to an official notification issued in the afternoon, the revised prices took effect from 3:45 pm the same day, immediately influencing retail transactions across the country. This marks yet another adjustment in a series of frequent price changes observed in recent weeks.

Revised Gold Prices in Bangladesh

The updated pricing structure for gold of different purities is outlined below:

In addition to the base prices, a 5 per cent value-added tax (VAT) will be applicable, further increasing the final cost for consumers.

Reasons Behind the Price Hike

BAJUS attributed the latest adjustment primarily to the rising price of refined gold in the domestic market. However, the underlying driver remains the volatility in global bullion markets, which has continued to fluctuate significantly in recent weeks.

In the international arena, gold prices in the New York spot market rose sharply on 27 March, increasing by approximately USD 110 per ounce to reach around USD 4,494. This sudden spike has had a direct impact on local pricing structures, prompting immediate revisions in Bangladesh.

Recent Market Volatility

The gold market has experienced pronounced instability over the past month, characterised by both steep declines and rapid recoveries. A summary of recent fluctuations is provided below:

Despite short-term declines, analysts note that the broader trend remains highly sensitive to global economic developments.

Global Drivers of Gold Demand

Experts attribute the sustained volatility to a combination of geopolitical tensions, increased gold purchases by central banks, and growing investor preference for safe-haven assets. Gold has historically been viewed as a protective investment during periods of uncertainty, and recent global conditions have reinforced this perception.

Over the past year, international gold prices have reportedly risen by more than 70 per cent, underscoring the scale of demand in uncertain economic conditions. At one point in January, spot prices approached USD 5,600 per ounce, which also pushed domestic prices in Bangladesh to record highs of nearly Tk 286,000 per bhori on 29 January.

Outlook

Market observers suggest that gold prices are likely to remain volatile in the near term, influenced by ongoing geopolitical developments, shifting monetary policies, and fluctuations in global demand. While short-term corrections may continue, the long-term trajectory remains closely tied to global uncertainty and investor behaviour.

For consumers and traders alike, the current environment underscores the need for caution and close monitoring of international market signals before making investment decisions.