Gold prices in Bangladesh reach new high, set at Tk 106,339 per bhori
2023.11.20 11:57
© Reuters
DHAKA – Gold prices in Bangladesh have soared to a new record, with the cost of 22-carat gold climbing by Tk 2,000 to reach Tk 106,339 per bhori. The Bangladesh Jewellers Samity (BAJUS) has announced that the revised prices will be effective from today.
The latest increase is part of a series of recent hikes in the precious metal’s valuation. On November 6, there was a significant rise of Tk 1,750, which at that time set a record price for gold in the country. Even before that, there was another notable increase on October 27. These consecutive price adjustments reflect an ongoing trend of escalating gold valuations in the local market.
The decision to raise the gold prices was made during a session of the Price Monitoring Committee chaired by MA Hannan Azad. An official circular issued after the meeting confirmed the implementation date and highlighted the continued upward trajectory of gold prices.
Apart from the top-tier 22-carat gold, other purity levels also saw price increases. The rate for the next tier is now set at Tk 101,500 per bhori, and a lower purity level is priced at Tk 86,983 per bhori. These changes come amid fluctuations in international markets and domestic supply concerns.
Despite these increases, the price of silver has remained stable. With Bangladesh’s annual gold demand fluctuating around certain figures, despite minimal imports, these adjustments are significant for both consumers and traders in the local market.
The directive for this adjustment came under the committee led by Enamul Haque Bhuiyan Liton. The BAJUS has been closely monitoring both international and domestic market influences as they continue to impact local pricing strategies for precious metals. The organization remains vigilant in setting fair market prices that reflect current economic conditions.
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