Gold prices rise again after declining yesterday

Gold prices in the domestic market increased again today, Saturday, following a decline yesterday, Friday. This time, the price of high-quality gold has risen by Tk 7,640 per bhori.

As a result, the price of standard 22-carat gold now stands at Tk 262,090 per bhori. The revised prices took effect from 10:00 am today, Saturday.

According to today, Saturday’s announcement by the Bangladesh Jewellers Association, the price of 21-carat gold has reached Tk 250,192 per bhori, while 18-carat gold now costs Tk 214,442 per bhori.

The price of traditional-method gold has been set at Tk 175,484 per bhori.

Earlier, on Friday, the authorities reduced gold prices in the local market by up to Tk 7,640 per bhori in response to a decline in global gold prices. Today, Saturday’s increase exactly offsets that reduction.

Alongside gold, the market also reduced silver prices yesterday, Friday by Tk 175 per bhori.

Gold prices experienced significant volatility over the past week. Most recently, prices rose by Tk 5,424 per bhori on Tuesday.

On the preceding day, Monday, prices fell by Tk 12,014 per bhori in two phases, once in the morning and again in the afternoon.

Prior to that, on 29 January, gold prices increased by a record Tk 16,213 per bhori. This rise pushed the price of one bhori of standard gold to Tk 286,000, the highest level recorded in the country’s history to date.

The domestic market generally adjusts gold prices in line with movements in the international market.

On Friday, global gold prices rose by USD 98.58 per ounce. At the latest update, gold traded at USD 4,966.26 per ounce.

Despite frequent fluctuations, global gold prices have increased overall by USD 415 over the past month.