Gold price sees 5th rise this year
Gold prices have gone up by Tk 1,225 a bhori, the fifth rise this year, because of a rise in the price of bullion in the international market in recent months.
The price of silver has also shot up by Tk 58 a bhori.
Bangladesh Jewellers Association (BAJUS) announced the new prices yesterday.
The new prices will be effective from tomorrow, said BAJUS General Secretary Enamul Haque Khan. He said the prices of gold in the local market had been adjusted in line with the rise in the prices in the international market.
After the latest hike, a bhori (11.664 grams) of 22-carat gold will cost Tk 47,415 from Tk 46,190, 21-carat Tk 45,315 from Tk 44,090, 18-carat Tk 38,667 from Tk 37,442 and traditional gold Tk 27,586 from Tk 26,361.
The price of silver is going up to Tk 1,165 from Tk 1,108 a bhori.
Following the previous hike in March this year, the price of the precious metal was hovering around $1,200 an ounce. Now it has reached $1,300 an ounce, said a number of businesses.
Local jewellers have to keep the prices in line with international market to avoid gold smuggling in and out of the country, said Anwar Hossain, president of Bangladesh Jewellery Manufacturers and Exporters Association.
The country does not allow commercial imports of gold. The sector runs on recycling, and a person can bring a small amount of gold into Bangladesh legally.
The sector's annual turnover will be at least Tk 700 crore, according to industry people.
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