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

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

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

The standing committee on pricing and price monitoring of Bangladesh Jewellers Association (BAJUS) took the decision of the gold price hike in a meeting on Saturday, 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 Tk 1,01,535, per bhori 18-carat gold Tk 87,013 and per bhori traditional method gold Tk 72,550.

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

In July, the gold price crossed the Tk 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.