Bangladesh raises gold prices again

Business Report :
Jewellers have hiked gold prices by Tk 1,831 to Tk 117,281 a bhori (11.664 grammes).
One gram of 22-carat gold will be priced at Tk 10,055 effective from on Sunday, the Bangladesh Jewellers Samity (Bajus) said in a statement.
The committee on pricing and price monitoring of Bajus took the decision in a meeting yesterday to raise the prices, citing an increase in pure gold prices in the local market.
Gold prices have been rising for more than a year influenced by hikes in the international market and volatility in its supply in the domestic market.
On March 19, Bajus cut gold prices to Tk 111,158 a bhori or 11.664 grammes from the earlier record high of Tk 112,907.
Although Bangladesh does not import a significant quantity of gold, its prices are almost linked with international trends.
In Bangladesh, the annual demand for gold stands between 20 tonnes and 40 tonnes.