Gold price again hits record high by Tk1,749 increase

The price of gold has reached a record high of Tk1,17,573 per bhori with a latest increase in price by Tk1,749 per bhori.

In a press release on Monday (8 April), the Bangladesh Jeweller's Association (Bajus) said the adjustment followed a price hike in the local bullion market.

The new rate will be effective from Monday, it added.

According to the release, 21-carat gold will now cost Tk1,12,208 and 18-carat Tk96,228 while traditional gold will be sold at Tk80,190.

This is the seventh time Bajus increased the price of gold this year.

Earlier on 6 April, Bajus increased the price of 22-carat gold by Tk1,750 per bhori to Tk1,15,824.

While the cost of gold has seen significant adjustments, the price of silver remains constant, with 22-carat silver priced at Tk2,100, 21-carat at Tk2,006, 18-carat at Tk1,715, and traditional silver at Tk1,283 per category.

This upward trajectory in gold prices aligns with the global market trends, where the price per ounce (31.103 grams) has escalated to $2,329, a stark rise from prices below $2,000 observed on 14 February, reports UNB.

The surge in gold prices on the international stage is largely attributed to anticipations of a policy interest rate cut by the Federal Reserve of the United States, sparking a rapid increase in gold investments. This phenomenon has significantly influenced the pricing strategy of gold in Bangladesh, reflecting the interconnected nature of global financial markets and commodities.