When gold glitters too much: Bangladesh feels the sting of global price surge as sales slump

As global uncertainty drives investors toward safe-haven assets, gold prices in Bangladesh have surged sharply while jewellery sales have slumped. On Wednesday, global gold prices hit an all-time high, crossing US $4,000 per ounce for the first time in history. In Bangladesh, the price of one bhori (11.664 grams) of 22-carat gold has risen by nearly Tk 35,000 in just a month, up almost 20 percent since August. On Aug 30, a gram of 22-carat gold cost Tk 14,945, but by Oct 9, the price had reached Tk 17,927, an increase of Tk 2,982 or 19.95 percent. This means each bhori of gold now costs Tk 34,782 more than a month ago. Jewellers say no other commodity has seen such...