Gold price reaches record Tk 124,501 a bhori

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

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, reports BSS.

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 between 20 tonnes and 40 tonnes.