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Gold Prices Reach Record Highs in Global Markets Amid Geopolitical Tensions

2024-05-19 07:52:32.361000

Gold prices have reached record highs in global markets, with the price of an ounce of gold exceeding $2,414 for the first time in history [b9ba6b99]. The increase in gold prices is attributed to wars, geopolitical tensions, fears about the US economy, and massive purchases by central banks. Central banks around the world have been buying gold for 14 consecutive years. In addition to the global market, the price of gold ornaments has also reached a new record high in the Bangladesh market, with buyers having to pay Tk 1 lakh 31 thousand 491 per bhori of gold ornaments, the highest price ever in the country's market [b9ba6b99]. The rise in gold prices is driven by economic uncertainty and countries' desire to rely on gold instead of the US dollar. The increase in gold prices is also fueled by wars, geopolitical tensions, and massive purchases by central banks [b9ba6b99]. The price of gold has been reduced eight times in a row in the local market, with the price of good quality gold (22-carat) being sold at Tk 1,09,163 per bhori [b9ba6b99]. The highest temperature in Bangladesh was recorded at 43.8 degrees Celsius in Jessore, the second-highest temperature in the country's history. Relief rains are expected to occur from May 4-5 across the country [b9ba6b99]. The admission test dates for various units of GST institutions in Bangladesh have been announced, with the 'A' unit test scheduled for April 27, the 'B' unit test for May 3, and the 'C' unit test for May 10 [b9ba6b99]. The country is currently experiencing a heatwave, with 10 people dying from heat stroke in the past week. Public health experts believe that the number of heat stroke victims is likely to be higher than the official estimate. Relief rains are expected to occur from May 4-5 across the country [b9ba6b99]. There are concerns about Rohingya infiltration from the Teknaf border in Cox's Bazar due to the ongoing civil war in the country. The Public Security Department has highlighted the risk of Rohingya crossing the Myanmar border and the infiltration by Myanmar's BGP members. Tensions may also spread in the hill tracts of Bangladesh [b9ba6b99]. The Foreign Minister of Bangladesh has called upon the private sectors of Thailand to take advantage of various government incentives for business, investment, and partnership. The Bangladesh Government is seeking Thai investment in the tourism sector and highlighted agricultural business, digital economy, logistics, and light manufacturing sectors as potential areas for investment [b9ba6b99].

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