Gold Prices Increased 14 Times in 3 Months

Gold jewelry has long been a prized possession for women, cherished for both special occasions and everyday wear. However, the rising price of gold is making it increasingly unattainable. 

The cost of high-quality 22-carat gold has now surpassed 1.5 lakh BDT per bhori, a sharp increase from 1.11 lakh BDT per bhori just a year ago. This means gold prices have surged by nearly 47,000 BDT per bhori in just one year.

Why Is Gold Becoming So Expensive?
Since Bangladesh imports all of its gold, local prices are directly impacted by global market fluctuations. As of March 31, the international gold price has soared past $3,100 per ounce.

Additionally, gold prices are consistently reaching new record highs every week. This trend has affected markets in Bangladesh, India, and other countries, leading to repeated price hikes.

Other Key Factors Driving Up Gold Prices

• Beyond global demand, several other factors are fueling the price surge:
• Geopolitical instability is making gold a preferred safe-haven investment.
• Rising US import tariffs are increasing trade war concerns, causing economic uncertainty.
• Investors are withdrawing funds from the stock market and putting their money into gold for stability.

A Major Influence: Central Banks' Gold Purchases
One surprising reason for the price increase is the aggressive gold-buying strategy of central banks worldwide. In 2024, global central banks collectively purchased over 1,000 tons of gold for the third consecutive year, significantly affecting prices.

Market Analysts' Insights
Experts believe the ongoing uncertainty surrounding Trump’s tariff policies has played a major role in the rising gold prices.

According to Joe Cavatoni, Chief Market Strategist at the World Gold Council, the current geopolitical and economic instability has made people anxious about their financial security. Trump’s tariff policies are expected to raise inflation in the US, prompting other countries to retaliate with their own tariffs. This could lead to inflation in multiple markets, further increasing demand for gold as a secure investment.

Gold Pricing in Bangladesh
In Bangladesh, the Bangladesh Jewellers' Association (BAJUS) regulates gold prices and updates them regularly.

Between January and March 2025, BAJUS adjusted gold prices 17 times, increasing them 14 times and lowering them only 3 times.

The first price hike of the year occurred on January 15, bringing 22-carat gold to 1,39,443 BDT per bhori. The most recent increase on March 28 pushed the price to 1,57,872 BDT per bhori, the highest ever recorded in the country.

Current Gold Prices in Bangladesh (As of March 28, 2025)

• 22-carat gold: 1,57,872 BDT per bhori
• 21-carat gold: 1,50,699 BDT per bhori
• 18-carat gold: 1,29,167 BDT per bhori
• Traditional gold: 1,06,539 BDT per bhori