Gold price hits record Tk 1,06,376 a bhori

The price of 22-carat gold has been hiked by Taka 1,750 a bhori while the new price will be a record Taka 1,06,376 a bhori from tomorrow.

The new price is 1.67 percent higher than the previous all-time high of Taka 1,04,626 per bhori (11.664 grammes) recorded on November 5.

The standing committee on pricing and price monitoring of Bangladesh Jewellers Association (BAJUS) took the decision of the gold price hike in a meeting today, according to a statement of the association signed by standing committee chairman Enamul Haque Bhuiyan Liton.

As per the new price, the fresh price of 21-carat per bhori gold will be Taka 1,01,535, per bhori 18-carat gold Taka 87,013 and per bhori traditional method gold Taka 72,550.

However, the price of silver remained unchanged. The price of per bhori 22-carat silver is Taka 1,715, per bhori 21-carat silver at Taka 1,633, per bhori 18-carat silver at Taka 1,400 while per bhori traditional method silver at Taka 1,050.

In July, the gold price crossed the Taka 100,000-mark for the first time in Bangladesh.

Gold prices have been rising for more than a year influenced by hikes in the international market and volatility in the supply in the domestic market.

Although Bangladesh does not import any significant quantity of gold, its prices are almost linked with international trends.

In Bangladesh, the annual demand for gold stood between 20 tonnes and 40 tonnes.