Dhaka, Oct. 22 -- A Bhori of gold now costs more than Tk 225,000, putting the price of a Rati at nearly Tk 2,500. The figures are enough to raise eyebrows.

But looking back just a little further may come as an even bigger shock. Nine months ago, a Bhori of the precious metal was nearly Tk 300,000, with a Rati climbing to Tk 3,000.

Such fluctuations in gold prices in Bangladesh are neither unusual nor sudden. Behind them lies a long history shaped by global economics, politics and market dynamics.

Put simply, there is a historical story behind why gold prices rise and fall and how those movements take place. In Bangladesh, that story began with gold costing around Tk 150 a Bhori after independence.

Gold has gone from expensive to extra...