The big drop in gold prices in the world market, how much is now per load in Bangladesh?
Gold has faced the biggest price drop in the last six weeks in the international market. The collapse in the gold market was influenced by geopolitical tensions in the Middle East, rising oil prices and renewed fears about interest rates in the United States. However, even though the price has decreased in the world market, gold is still being sold at the previously fixed price in Bangladesh.
There has been a major fall in the price of gold in the international market. According to a report by Reuters, the price of gold has fallen by about 3.4 percent this week, which is the biggest weekly decline since June 1.
Spot gold rose slightly to $3,980.64 per ounce at 4:55 PM GMT on Friday (July 17). However, earlier in the day it fell to its lowest level since July 1. At the same time, US gold futures for August delivery fell to $3,984.10 an ounce.
According to market analysts, the price of fuel oil has increased in the international market due to the renewed conflict between the United States and Iran. There is a fear of increasing inflationary pressure. Expectations that the US central bank, the Federal Reserve, may raise interest rates in the future have also strengthened. These two factors have created pressure on gold.
Tim Waterer, chief market analyst at KCM Trade, said that while the recent inflation data was relatively positive, the market was not affected by the rise in oil prices. According to him, inflation and bond yield concerns are currently putting the biggest pressure on gold prices.
Not only gold, the prices of other precious metals also fell in the international market. In the spot market, silver prices fell to $55.20 per ounce, platinum to $1,599.17 and palladium to $1,244.16. All three metals are facing losses throughout the week.
What is the price of gold in the country now?
Even though the prices in the world market have come down, the latest rates set by the Bangladesh Jewelers Association (BAJUS) are still valid. Accordingly at present including VAT-
22 carats: Rs 2,19,808 per lot
21 carat: Rs 2,09,894 per lot
18 carat: Rs 1,80,267 per lot
Traditional Gold: Tk 1,47,316 per lot
This price was fixed by Bajus last July 14. Considering the impact of price fall in the international market, there is no new announcement about whether the price of gold will be reduced in the country or not.
