Friday, October 20, 2017

Bangladesh jewellers raise gold prices again in two weeks

  • Chief Economics Correspondent,
    Published: 2017-08-13 00:01:13 BdST


Jewellers in Bangladesh have raised gold prices by up to 3.11 percent just two weeks after the first hike.

Bangladesh Jewellers Samity or Bajus has cited the rise in prices of the precious metal in the international market as the reason behind the latest price hike.

The new prices with a hike of Tk 1,517 per bhori (11.664 grams) for the finest refined quality, 22 carats, will go into effect on Sunday.

The other categories of gold would be costlier by Tk 583 to Tk 1,283 per bhori.

Bajus General Secretary Dilip Kumar Agarwala told on Saturday the prices have been adjusted to the international market.

According to him, the cost of the yellow metal rose by $70 to 80 per ounce (2.654 bhori) now in the global market in the past two weeks.

“In line with that hike, the price of gold in Bangladesh should go up by Tk 2,000 per bhori, but we’ve raised the price by Tk 1,500,” Agarwala said.

According to him, the price of silver, which is Tk 1,050 per bhori now, remains unchanged.

On May 8, the traders of the precious metals lowered the prices by up to Tk 1,166 after several hikes in the past one year.

They raised the prices by up to Tk 1,225 per bhori again on July 28, citing the same reason - rise in the global market.

The new gold prices (per bhori/11.664gm) are:

22 carat – Tk 48,639

21 carat – Tk 46,481

18 carat – Tk 40,481

Traditional system gold – Tk 26,240