Saturday, 21 December, 2024
Jewellers have increased the price of gold by Tk 1,574, bringing it to Tk 1,43,525 per bhori (11.664 grams), citing a rise in the price of pure gold in the international market.
The adjustment was made during a meeting of the Standing Committee on Pricing and Price Monitoring of the Bangladesh Jewellers’ Association (BAJUS) on Wednesday.
According to a press release signed by committee chairman Masudur Rahman, the price of 22-carat gold is now Tk 143,525 per bhori, reflecting an increase of Tk 1,574.
The price of 21-carat gold has also risen, now costing Tk 137,005 per bhori, up by Tk 1,504.
Furthermore, 18-carat gold is priced at Tk 117,433 per bhori, an increase of Tk 1,295, while traditional gold has risen by Tk 1,096, now priced at Tk 96,519 per bhori.
These new prices will take effect on Thursday, according to the release.
In contrast, silver prices remain unchanged. The price of 22-carat silver is Tk 2,100 per bhori, while 21-carat silver costs Tk 2,006 per bhori. The rate for 18-carat silver is Tk 1,715 per bhori.
traditional silver, BDT 1,283 per bhori. traditional silver, BDT 1,283 per bhori. silver, BDT 1,283 per bhori.
In the world market, gold hit a new all-time high (ATH) of $2,777, breaking all previous records. For the first time in the world market, the price of one ounce of gold exceeded 2,777 dollars.
On Wednesday (October 30) until 9:30 am, the price of one ounce of gold in the spot market was 2,777.78 dollars.
Traders are turning to gold as a safe-haven investment amid the Middle East conflict, volatility in the labour market, the Ukraine war, and rising odds for a Trump victory in US elections. Due to these reasons, the price of gold in the world market is on an upward trend, according to Reuters.
Bank of America, one of the leading investors in the world's financial sector, considers gold to be the most ideal investment at the moment. Michael Widmer, an expert from Bank of America recently said, "Gold is ideal for investment in the current situation. Gold is best suited to mitigate investor risk at the moment, especially as inflation and government debt continue to rise.
Predicting the continuation of the rising trend of gold prices, Bank of America said that the price of gold will rise to three thousand dollars per ounce by the first half of 2025.
Meanwhile, to deal with the inflation situation, the central banks are more inclined to buy gold to maintain the value of their currency, according to various international media. Currently, 10 per cent of the world's central banks' reserves are gold. Which is just 3 percent of their total reserves even a decade ago.
From June this year, gold prices started to increase at an unusual rate. Last June 7, the price of gold per ounce was 2,293 dollars. After that, the price increased gradually, on October 18, the price of gold per ounce was 2,700 dollars for the first time in the world market. In less than a week, the price of gold per ounce increased to $2,750.
If the price increases in the world market, it affects the country's market as well. So the price can be adjusted in the country's market as well at any time.
Bangladesh Jewellers Association (BAJUS) determines the price of gold in the country's market. As such, Bajus last adjusted the price of gold in the country's market on October 22. The organization fixed the price of 22-carat gold at Tk1,41,951 after increasing the price by Tk1,890.
Besides, the price of gold was fixed at Tk1,35,501 per bhori of 21-carat, Tk1,16,138 per bhori of 18-carat, and Tk95,423 per bhori of traditional method gold. It came into effect on October 23 last.
It should be noted that the price of gold has been adjusted 44 times in the country's market so far this year. Among them, the price was increased 27 times and decreased 17 times. In 2023, the price was adjusted 29 times.
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Jewellers have increased the price of gold by Tk 1,574, bringing it to Tk 1,43,525 per bhori (11.664 grams), citing a rise in the price of pure gold in the international market.
The adjustment was made during a meeting of the Standing Committee on Pricing and Price Monitoring of the Bangladesh Jewellers’ Association (BAJUS) on Wednesday.
According to a press release signed by committee chairman Masudur Rahman, the price of 22-carat gold is now Tk 143,525 per bhori, reflecting an increase of Tk 1,574.
The price of 21-carat gold has also risen, now costing Tk 137,005 per bhori, up by Tk 1,504.
Furthermore, 18-carat gold is priced at Tk 117,433 per bhori, an increase of Tk 1,295, while traditional gold has risen by Tk 1,096, now priced at Tk 96,519 per bhori.
These new prices will take effect on Thursday, according to the release.
In contrast, silver prices remain unchanged. The price of 22-carat silver is Tk 2,100 per bhori, while 21-carat silver costs Tk 2,006 per bhori. The rate for 18-carat silver is Tk 1,715 per bhori.
traditional silver, BDT 1,283 per bhori. traditional silver, BDT 1,283 per bhori. silver, BDT 1,283 per bhori.
In the world market, gold hit a new all-time high (ATH) of $2,777, breaking all previous records. For the first time in the world market, the price of one ounce of gold exceeded 2,777 dollars.
On Wednesday (October 30) until 9:30 am, the price of one ounce of gold in the spot market was 2,777.78 dollars.
Traders are turning to gold as a safe-haven investment amid the Middle East conflict, volatility in the labour market, the Ukraine war, and rising odds for a Trump victory in US elections. Due to these reasons, the price of gold in the world market is on an upward trend, according to Reuters.
Bank of America, one of the leading investors in the world's financial sector, considers gold to be the most ideal investment at the moment. Michael Widmer, an expert from Bank of America recently said, "Gold is ideal for investment in the current situation. Gold is best suited to mitigate investor risk at the moment, especially as inflation and government debt continue to rise.
Predicting the continuation of the rising trend of gold prices, Bank of America said that the price of gold will rise to three thousand dollars per ounce by the first half of 2025.
Meanwhile, to deal with the inflation situation, the central banks are more inclined to buy gold to maintain the value of their currency, according to various international media. Currently, 10 per cent of the world's central banks' reserves are gold. Which is just 3 percent of their total reserves even a decade ago.
From June this year, gold prices started to increase at an unusual rate. Last June 7, the price of gold per ounce was 2,293 dollars. After that, the price increased gradually, on October 18, the price of gold per ounce was 2,700 dollars for the first time in the world market. In less than a week, the price of gold per ounce increased to $2,750.
If the price increases in the world market, it affects the country's market as well. So the price can be adjusted in the country's market as well at any time.
Bangladesh Jewellers Association (BAJUS) determines the price of gold in the country's market. As such, Bajus last adjusted the price of gold in the country's market on October 22. The organization fixed the price of 22-carat gold at Tk1,41,951 after increasing the price by Tk1,890.
Besides, the price of gold was fixed at Tk1,35,501 per bhori of 21-carat, Tk1,16,138 per bhori of 18-carat, and Tk95,423 per bhori of traditional method gold. It came into effect on October 23 last.
It should be noted that the price of gold has been adjusted 44 times in the country's market so far this year. Among them, the price was increased 27 times and decreased 17 times. In 2023, the price was adjusted 29 times.
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