Gold price reaches record Tk 124,501 a bhori

Gold prices hit a historic high of Taka 124,501 a
bhori and Bangladesh Jewellers Association (Bajus) decided to make the rate
effective from today.

The local jewellers raised pure gold prices by Taka 1,516 per bhori (11.664
grams), according to a press release released by the BAJUS.

The standing committee on pricing and price monitoring of the BAJUS took the
decision of raising the price in a meeting held yesterday citing an increase
in pure gold prices in the local market.

Earlier, on August 18, BAJUS increased gold prices to Taka 122,985 per bhori,
which was the previous record high in price.

Bangladesh saw gold prices rise above Taka 100,000 per bhori for the first
time on July 20 last year.

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

In Bangladesh, the annual demand for gold stands in between 20 tons to 40
tons. (BSS)