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Story perspectives

Global Gold Prices Plummet Amid Dollar Strength and Tensions

3/5/2026

35 8 Full Breakdown

Summary

Story summary

The international gold price fell to about $5,172 per ounce, pressured by a stronger dollar and inflation concerns linked to Middle East tensions.
In Bangladesh, the Jewellers’ Association cut prices by 9,214 BDT per bhori to 268,214 BDT.
Vietnam's gold bars dropped to 184.2 million VND per tael, down 6.7 million VND.
Pakistan's price per tola fell Rs 10,000 to Rs 539,962.
Silver prices also declined in these markets.

History

Historical Context

The Gold Standard Act of 1900 established gold as the exclusive basis for redeeming U.S. currency, influencing global gold prices. This system persisted until 1971, when President Nixon ended the dollar's convertibility to gold, marking a shift to fiat currency. Today, fluctuations in gold prices continue to reflect historical patterns of economic policy and geopolitical tensions, impacting countries like Bangladesh and Pakistan.

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Story summary

The international gold price fell to about $5,172 per ounce, pressured by a stronger dollar and inflation concerns linked to Middle East tensions.
In Bangladesh, the Jewellers’ Association cut prices by 9,214 BDT per bhori to 268,214 BDT.
Vietnam's gold bars dropped to 184.2 million VND per tael, down 6.7 million VND.
Pakistan's price per tola fell Rs 10,000 to Rs 539,962.
Silver prices also declined in these markets.

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