Gold prices will go up by Tk 1,225 a bhori in the local market from
tomorrow to reflect the rising bullion prices in the international
market in recent weeks.
Bangladesh Jewellers Samity announced the new rate yesterday. This is
the second rise of gold and silver prices this year. Earlier, the
prices were increased on January 13.
Each bhori or 11.66g of 22-karat gold will be sold at Tk 43,740, according to the new rates.
The price of 21-karat and 18-karat will be Tk 41,640 and Tk 34,992
respectively, said Anwar Hossain, president of Bangladesh Jewellery
Manufacturers and Exporters Association.
Gold hit a three-month high at $1,147.4 an ounce in the international market.
Demand for gold in Asia, which accounts for more than 60 percent of
global use, is fundamentally strong and should continue as investors
seek the safety of bullion.
“Gold prices went up by $100-120 an ounce in recent weeks in the
international market. Now we have to adjust local prices,” Hossain told
The Daily Star.
The prices of silver also went up, by Tk 58 a bhori. People flock to
gold when they think there are tough economic times on the horizon.
So it is no surprise that the precious metal's recent rise has corresponded with the stock market's slide.
