Bangladesh’s gold market remains volatile as prices surged again within just 12 hours of a previous reduction. The Bangladesh Jewellers Association (BAJUS) announced a new record high, setting the price of 22-carat gold at Tk 255,617 per bhori, effective nationwide from Saturday. The decision reversed Thursday night’s brief price cut, which had lowered the rate to Tk 249,318 per bhori before being superseded by Friday noon’s increase.

BAJUS said the adjustment was made due to a rise in the local price of acid gold and changing global conditions. The association noted that international prices had unexpectedly climbed after a previous downward trend, prompting an emergency meeting to revise domestic rates. Traders attributed the global volatility to heightened geopolitical tensions between the United States and Iran, which have boosted demand for gold as a safe investment.

Market analysts reported that gold prices in Bangladesh have been adjusted 12 times so far this year, with nine increases and three reductions. They warned that without stability in global conditions, sustained relief in domestic gold prices remains unlikely.