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on Iran’s power plants, which also sent crude oil prices down 13 percent. However, the recovery has not offset the broader monthly decline.

Bajus said the prices of pure gold in the country’s bullion market have fallen, prompting adjustments in gold rates. However, the main reason behind the decline is the continued drop in global gold prices.

Dewan Aminul Islam Shahin, chairman of Bajus’ standing committee on pricing and price monitoring, told The Daily Star that local gold prices depend on multiple factors -- international benchmark, import costs, and demand.

He explained that local prices reflect a lag tied to import cycles. Gold imported into Bangladesh undergoes 12 to 15 days of processing before reaching retail outlets, which delays the transmission of international price movements.

“International gold markets have been highly volatile, with prices swinging sharply within hours,” Shahin said. “Gold tends to rise during global crises, such as wars or energy shortages, and falls when there are signs of peace.”

Industry insiders say renewed conflict could reverse the downward trend, and if the war drags on with rising damages, gold may once again appeal to investors.

Meanwhile, international analysts expect gold’s real yields to continue moving higher, according to a Reuters report.

With hopes of de-escalation in the Middle East conflict, and “as USD strength eases, safe-haven demand starts to reassert. This reinforces the view that gold didn’t lose its safe-haven appeal. ‌It was briefly crowded out by the USD, and now that pressure is easing,” Christopher Wong, a strategist at Singapore-based OCBC, told Reuters.

He also said gold remains sensitive to US Federal Reserve policy expectations, dollar strength, and geopolitical developments. “The rebound suggests dips may continue to find support unless real yields move meaningfully higher.”