Gold prices hit new record in local market

Business Report :

Gold market experiences wild fluctuations in the country as global developments drive volatility.
The price of the highest-quality 22-carat gold has been increased by Tk 6,299 per bhori (11.664 grams), pushing the price to a record Tk 255,617 per bhori, according to the Bangladesh Jewellers Association (BAJUS). The latest hike comes in response to rising prices of refined gold (tejabi sona) in the local market.
BAJUS said the new prices will come into effect from on Friday (January 23). The decision was taken at a meeting of the BAJUS Standing Committee on Pricing and Price Monitoring earlier in the day. The information was later confirmed in a notification signed by committee chairman Dr Dewan Aminul Islam Shaheen.
Gold prices have seen sharp fluctuations in recent days. Between January 11 and January 22, the price of 22-carat gold was raised six times by a total of Tk 25,661 per bhori, taking the price to Tk 252,467.
On Thursday, BAJUS announced a price cut of Tk 3,149 per bhori, which remained effective for only 12 hours before Friday’s fresh hike created a new record. Under the revised rates, 21-carat gold is now priced at Tk 244,011 per bhori, 18-carat gold at Tk 209,136 per bhori, and traditional method gold at Tk 171,869 per bhori.
Silver prices have also been increased. The price of 22-carat silver has been set at Tk 6,882 per bhori, while 21-carat, 18-carat and traditional silver are now priced at Tk 6,532, Tk 5,599 and Tk 4,199 per bhori respectively.