On July 28, 2026, the international precious metals market experienced slight fluctuations. Affected by a weakening US dollar index and geopolitical tensions, international gold prices edged up during Asian trading hours. London spot gold broke through the $2,450 per ounce mark, closing at $2,458.30 per ounce, up 0.6%. Silver prices followed suit, with spot silver at $31.20 per ounce, up 0.8%, and the gold-to-silver ratio fell to around 78.7. In terms of local gold prices in Bangladesh, Dhaka Gold Bar Wealth Management’s real-time quotes showed pure gold (24K) at 8,450 Taka per gram, up 25 Taka from the previous trading day; silver at 108 Taka per gram, up approximately 0.9%.
Market Driver Analysis
The rise in gold and silver prices was mainly driven by three factors:
- Weaker US Dollar: The latest economic data from the US Department of Commerce showed a 0.3% month-on-month decline in durable goods orders for June, missing market expectations, while initial jobless claims rose slightly, reinforcing expectations that the Federal Reserve may pause rate hikes. The US dollar index, which measures the greenback against a basket of currencies, fell below the 100 mark to 99.8, hitting a nearly three-month low, directly benefiting dollar-denominated gold.
- Geopolitical Tensions: The situation in the Middle East escalated again, with reports of an attack on an oil field facility, boosting safe-haven sentiment. Funds flowed into safe-haven assets such as gold. Holdings of the world’s largest gold ETF recently increased by 5.2 tons to 1,256.8 tons, indicating stronger bullish sentiment among institutional investors.
- Strong Physical Demand: Seasonal demand for gold jewelry and bars rose in Asian consumer markets. Bangladesh, a major gold consumer, saw increased purchasing enthusiasm during traditional festivals. According to Bangladesh Bank data, gold imports in the second quarter of 2026 rose 12% year-on-year to 28 tons.
Technical Analysis and Outlook
From a technical perspective, international gold prices consolidated after breaking through $2,400 per ounce and today breached the $2,450 resistance level. The MACD indicator showed a golden cross, the Bollinger Bands expanded, indicating short-term bullish momentum. Senior precious metals analyst Sabir Khan said: “Gold prices are expected to challenge the previous high of $2,480. If broken, the psychological resistance of $2,500 is in sight. Support below is seen around $2,420.”
For silver, prices found strong support near $30 per ounce and have risen about 9% over the past month, outperforming gold. With industrial demand recovering from sectors like solar photovoltaics, silver’s industrial attributes are likely to continue benefiting. The gold-to-silver ratio fell from around 85 at the start of the year to the current 78.7, still at a historical medium level, with further room for correction expected.
Bangladesh Local Market Dynamics
In Bangladesh, Dhaka Gold Bar Wealth Management’s platform updates real-time gold prices. Today’s gold bar buying price was 8,400 Taka per gram, and selling price was 8,480 Taka per gram, maintaining a reasonable bid-ask spread. For silver trading, the buying price was 105 Taka per gram, and selling price was 111 Taka per gram. Investors can check real-time gold and silver quotes on the platform to seize trading opportunities. Notably, Bangladesh Bank today announced keeping the benchmark interest rate unchanged to stabilize exchange rates and inflation, which has a moderately bullish impact on local gold prices.
Industry Perspective and Investment Advice
The global central bank gold buying trend continues. According to the latest report from the World Gold Council, global central banks net purchased 483 tons of gold in the first half of 2026, a record high for the period. Central banks in China, Poland, India, and others increased their gold reserves, providing long-term support for gold prices. For ordinary investors, it is recommended to focus on opportunities during pullbacks and build gold positions in batches. For silver, due to its higher volatility compared to gold, investors should set reasonable stop-loss levels and watch for cross-asset arbitrage opportunities from the gold-to-silver ratio adjustment.
Overall, on July 28, 2026, gold and silver spot prices showed a steady upward trend. Investors should closely watch the US second-quarter GDP data to be released tonight. If the data disappoints, it could further boost gold prices. Dhaka Gold Bar Wealth Management will continue to provide professional, transparent precious metal quotes and market analysis for Bangladeshi investors, helping preserve and grow wealth.
