Photo: Collected
Bangladesh Jewellers' Association (Bajus) has decided to set gold prices at a record high of Tk 1.08 lakh per bhori (11.664 grammes), effective from Monday.
The standing committee on pricing and price monitoring of Bajus took the decision in a meeting yesterday citing a rise in pure gold prices, says a statement of the association on Sunday.
The existing price of each bhori of 22-carat gold ornaments is Tk 106,376.
In July, the gold price crossed the Tk 100,000-mark for the first time in Bangladesh.
Gold prices have been rising for more than a year, influenced by hikes in the international market and volatility in domestic market supplies.
Although Bangladesh does not import any significant quantity of gold, its prices are almost linked with international trends.
In Bangladesh, the annual demand for gold stood between 20 tonnes and 40 tonnes. About 80 percent of the demand is met through smuggled gold.
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