Asian Physical Demand Recovers, Gold and Silver Prices Strengthen Together
On July 30, 2026, the global precious metals market saw a new round of rally. Driven by strong recovery in physical gold demand in Asia and a surge in silver demand during the Indian wedding season, international gold prices broke through the key psychological level of $2,000/oz, followed by a sharp rise in silver prices. In Dhaka, Bangladesh, local gold bullion market prices edged up, while silver rose more significantly.
Physical Demand as Main Driver
According to the latest data from the World Gold Council, physical gold demand in Asia grew 12% year-on-year in Q2 2026, with India, China, and Bangladesh as the main growth engines. As an important gold consumer market in South Asia, Dhaka Exchange's gold trading volume rose 15% quarter-on-quarter. In addition, the upcoming Indian wedding season (usually from August to November) has greatly boosted silver demand, with Indian silver imports hitting a record high of 800 tons in July.
Latest Gold and Silver Prices
- International Gold Price: London spot gold at $2,005.30/oz, up 0.8% intraday.
- International Silver Price: London spot silver at $26.45/oz, up 1.6% intraday.
- Dhaka Gold Price: Local 24K gold bar buying price at 8,650 Taka/g, selling price at 8,780 Taka/g, up 0.5% from yesterday.
- Dhaka Silver Price: Local silver buying price at 115 Taka/g, selling price at 120 Taka/g, up 1.2% from yesterday.
Industrial Demand and Investment Sentiment in Sync
The industrial attribute of silver is particularly prominent in this rally. The strong demand for silver from the photovoltaic industry continues to grow, with global installed photovoltaic capacity increasing 25% year-on-year in the first half of 2026, pushing silver's industrial demand share to over 60%. At the same time, expectations of accommodative central bank policies and geopolitical uncertainties continue to support safe-haven buying of gold.
Future Outlook
Analysts point out that in the short term, Asian physical demand will still dominate the pace of the gold and silver market. Bangladesh's traditional festival "Eid al-Adha" is approaching, which is expected to further boost local gold consumption. Investors can monitor the dynamic change in the gold-silver ratio—currently around 75.8, still at a historical mid-to-high level, suggesting more upside potential for silver relative to gold.
Dhaka Gold Bar Wealth Management reminds investors: The precious metals market is volatile; allocate rationally based on your own risk tolerance. For real-time gold and silver spot prices, please visit our website or use the mobile app for the latest quotes.
