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Commodities

Gold Prices Soar After Three Cuts by Bangladesh Bank

Guavy AI Editorial Team
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Gold
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Gold prices have rebounded after three consecutive cuts by the Bangladesh Bank. The BB had been reducing the import duty on gold to support the local jewelry industry, but this move appears to have backfired.

The price of gold has increased significantly, with a kilogram now costing around Tk 81,000 (USD 950) in the local market. This is up from Tk 75,500 (USD 875) just two weeks ago.

According to experts, the rebound can be attributed to a combination of factors, including the BB's decision to reduce import duty and changes in global gold prices.

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