Gold prices have risen again in Bangladesh on Saturday, with the price of 22-carat gold increasing by Tk4,374 per bhori.
The new prices came into effect today at 10 a.m., according to the Bangladesh Jewellers Association (BAJUS).
The association said the prices were adjusted following a rise in the price of pure gold in the local market, driven mainly by higher prices in the international market.
Following the latest adjustment, the price of 22-carat gold, including VAT, stands at Tk234,038 per bhori. The price of 21-carat gold is Tk223,541, while 18-carat gold costs Tk191,931 per bhori. Gold sold under the traditional method is priced at Tk156,822 per bhori.
Before Saturday’s increase, 22-carat gold was priced at Tk229,664 per bhori, 21-carat at Tk219,342, 18-carat at Tk188,374 and traditional-method gold at Tk153,848.
The price of silver has also increased in the domestic market today. A bhori of 22-carat silver now costs Tk4,899, while 21-carat silver is priced at Tk4,666.
The increase came a day after gold prices fell by up to Tk3,226 per bhori on Friday. On Thursday, BAJUS had raised gold prices by Tk10,000 per bhori.
The association’s Standing Committee on Pricing and Price Monitoring held a meeting and decided to increase the prices. A press release signed by committee chairman Dewan Aminul Islam conveyed the decision.
The price of gold in the global market experienced a sudden and significant jump. The price of gold per ounce increased by more than $100. In the past few months, the price of gold has never risen by this much in a single day.
Over the past month, the price of gold has increased by nearly $110 per ounce, meaning almost the entire increase came in a single day.
Along with gold, the price of silver in the global market increased by more than $63 per ounce yesterday, which is why silver prices were also raised.
In January this year, amid global geopolitical tensions, gold prices crossed $5,000 an ounce for the first time in history. Prices later declined somewhat but rose above $5,000 again after the Iran war began in late February. Following a ceasefire agreement, prices fell below $4,000 and remained around that level for nearly two months.