Gold prices witness massive drop in global market

Gold prices witness massive drop in global market

International Deskdaily-bangladesh.com

Published: 19:56 14 May 2022   Updated: 20:16 14 May 2022

Gold; File Photo

Gold; File Photo

Gold prices have fallen sharply in the global market. Gold prices fell nearly 4 percent in global markets last week. As a result, the price of gold per ounce has dropped by more than $70 and is now below $1850. At the same time, the prices of silver and platinum have also reduced.

Due to the reduction in gold prices in the global market, it has already been reduced in the domestic market. Bangladesh Jewellers Samity (BAJUS) has set new gold prices in the country’s market since last Wednesday.

As per that, the best quality or 22-carat has been reduced by Tk 1,166 and fixed at Tk 76,516 per bhori (11.664 grams). 

Besides, the price of 21-carat gold has been reduced by Tk 1,166 and fixed at Tk 73,017 per bhori. The price of 18-carat gold has been reduced by Tk 933 and fixed at Tk 62,636 per bhori. The price of traditional method gold, on the other hand, has been reduced by Tk 876 and fixed at 52,196 per bhori.

The price of gold per ounce in the global market was above Tk 1,860 when BAJUS announced the reduction of gold price in the country’s market.

Since then, the price of gold has decreased every working day traded in the global market. In the last four weeks, the price of gold in the global market has come down to the lowest level.

In the last one week, the price of gold per ounce in the global market has decreased by 3.81 percent or $71.74. Of this, on the last working day of the week, it decreased by $10.44 dollars or 57 percent. The price of gold per ounce stands at $1,811. The price of gold has decreased by 8.22 percent in a month.

Besides gold, silver and platinum prices have fallen sharply in the last one week. At the same time, the price of silver per ounce decreased by 5.59 percent and stood at $21.09. The price of this metal has decreased by 17.70 percent in a month.

Platinum, another precious metal, fell 2.54 percent over the past week. The price of platinum per ounce stood at $938.50. The price of this precious metal has decreased by 5.21 percent in a month.

DailyBangladesh/AS