The prices of all kinds of gold increased yesterday by Tk1,167 per bhori, in line with the international market, Bangladesh Jewellers’ Samity (Bajus) said in a statement.
The latest rise comes less than a month, after the last price hike of the precious metal on January 2.
In its statement, Bajus on Monday said the price per gram of 22 carat gold was set at Tk4,300, and it will be sold at Tk50,155 per bhori from Tuesday.
It was sold at Tk48,988 per bhori even on Monday. One bhori is about 11.66 grams.
As per the new price chart, 21 carat gold per bhori will be sold at Tk47,822, while 18 carat gold per bhori for Tk42,806.
The traditional (sanatan) category of gold price remains unchanged, at Tk27,585 per bhori, while 21 carat silver costs Tk1,049 per bhori.
Ganga Charan Malakar, president of Bajus, told the Dhaka Tribune that the decision to increase gold prices was made as prices had gone up in the international market.
He added that prices may go up again, subject to changes in the international market.
According to businessmen in the jewellery industry, 22 carat gold contains 91% metal, while 21 carat gold contains 87% and 18 carat gold contains 75%.
International figures
Amid international situations such as Brexit, Wednesday’s US Federal Reserve decision and Thursday’s conclusion of the latest Sino-US trade talks, gold broke through $1,300 an ounce to reach its highest since mid June, reports Reuters.
Spot gold rose to its highest since June 14, 2018 at $1,306.43 and was up 0.2% at $1,306.11 per ounce by 0715 GMT.
US gold futures were up 0.1% at $1,304.70 per ounce.
Gold tends to rise on expectations of lower interest rates, which reduce the opportunity cost of holding non-yielding bullion.
The yellow metal has risen over 12% since touching a more than 1-1/2-year-low in August mostly due to volatile stock markets and a softer dollar on the back of expectations that the Fed will pause its multi-year rate-hike cycle.
Reflecting investor sentiment in bullion, holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund (ETF), rose 0.73% to 815.64 tonnes on Monday, their highest since June 2018.
“ETF interest remains supportive to the yellow metal, while a number of ongoing geopolitical concerns continue to facilitate top-side momentum,” MKS PAMP Group said in a note.
In other metals, palladium was steady at $1,331 per ounce. Prices hit a record high of $1,434.50 on Jan. 17.
Silver rose 0.2% to $15.77 per ounce while platinum was up 0.4% to $812.51.
