After several days of steady gains, gold prices have finally declined in the global market. The drop follows US President Donald Trump's decision to withdraw his threat of imposing a 50% tariff on the European Union (EU), which led to reduced investor demand for the precious metal.
According to a Reuters report, on Monday (May 26), the price of spot gold fell by 0.8% to $3,332.40 per ounce. In the futures market, gold prices dropped by 1%, settling at $3,331.90 per ounce.
Earlier, a dip in the US dollar temporarily boosted gold prices, as the weaker dollar made the metal more affordable for international buyers. On May 21, spot gold rose by 0.5% to $3,305.39 per ounce—its highest level since May 12.
Analysts attribute the price correction to Trump's delayed tariff move against the EU, which has eased investor concerns and reduced gold's appeal as a safe-haven asset.
While global prices are trending downward, the domestic market in Bangladesh continues to see a rise. The Bangladesh Jewellers’ Association (BAJUS) raised gold prices twice last week.
On Wednesday (May 21), the price of 22-carat gold was increased by BDT 2,823 per bhori, bringing the new rate to BDT 169,921 per bhori. This price hike came into effect from Thursday (May 22).
Current Gold Prices in Bangladesh (Per Bhori):
22 Carat: BDT 169,921
21 Carat: BDT 162,200
18 Carat: BDT 139,023
Traditional Method: BDT 114,949
Despite the global downturn, the local market has yet to reflect the shift. However, market observers suggest that the international decline may influence local prices in the coming days. Experts advise investors to wait before making any final decisions on gold investments.
