Play store
DHAKA: Gold prices have increased in Bangladesh after falling for two consecutive days, with the highest hike reaching Tk3,266 per bhori. The new rates came into effect at 10am on Monday.
This marks the fifth adjustment in domestic gold prices in the past six days. Silver prices, however, remain unchanged.
The Bangladesh Jewellers Association (BAJUS) formally announced the price hike.
Last Wednesday and Thursday, gold prices were raised by a combined Tk3,849. However, prices fell for two consecutive days on Friday and Saturday, dropping by a total of Tk7,115. They have now increased again.
Under the new rates, 22-carat gold costs Tk220,858 per bhori, while 21-carat gold is priced at Tk210,943. The price of 18-carat gold has been set at Tk181,200, while traditional-method gold costs Tk148,016 per bhori.
Before the latest increase, 22-carat gold was priced at Tk217,592 per bhori, 21-carat at Tk207,794, 18-carat at Tk178,459 and traditional-method gold at Tk145,800.
Global gold market
Gold prices have been generally declining in the global market.
Yesterday, gold prices in the New York market rose by $11.94 per ounce to $3,899. On Saturday, the price stood at $3,875 per ounce.
Gold prices generally rise during wars or periods of uncertainty. However, since the war involving Iran, the United States and Israel began, gold prices have moved in the opposite direction.
During this period, yields on US dollar-denominated bonds have increased, prompting investors to shift towards those assets. This is considered the main reason behind the decline in global gold prices.
Gold prices have fallen by $241 over the past 30 days and by $635 over the past six months.
