Friday, November 24, 2017

Bangladesh jewellers raise gold prices by 9.27% in six weeks

  • Chief Economics Correspondent, bdnews24.com
    Published: 2017-09-10 21:45:04 BdST

bdnews24

Bangladeshi jewellers have raised gold prices for the third time in around one and a half months, this time by up to 3.11 percent.

The prices of the yellow metal went up by up to Tk 4,257 or 9.27 percent per bhori or 11.664 grams in this period, including the latest hike announced by Bangladesh Jewellers Samity or Bajus on Sunday.

From Monday, finest refined quality or 22-carat gold will cost Tk 50,155 per bhori, with a rise of Tk 1,516 from last hiked price of Aug 13.

Jewellers' association Bajus raised gold prices by up to Tk 1,225 per bhori at the time.

Before the July 28 hike of up to Tk 1,517 per bhori, the prices were lowered by Tk 1,166 per bhori or 3.11 percent on May 7 in the last depreciation this year.

Like previous announcements on price adjustment, the association cited gold price hike in the international market as the reason behind raising the prices in Bangladesh.

Gold prices rose in the international market by up to $70 per ounce, Bajus General Secretary Dilip Kumar Agarwala told bdnews24.com on Sunday.

"We've raised the price by Tk 1,500, though it should be a Tk 2,000 hike in line with the global price rise," he added.

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

22 carat – Tk 50,155

21 carat – Tk 47,822

18 carat – Tk 41,990

Traditional system gold – Tk 26,240