Gold prices raised by Tk 1050 per bhori

The price of 22-carat gold has been increased by Tk 1,050 per bhori on the local market.

Bangladesh Jeweller's Association (BAJUS) announced the price hike on Saturday.

This means each bhori (11.664g) of 22-carat gold will cost Tk 110,213.
The new price effective from today(May 5).

BAJUS said that a rise in pure gold prices on the local market forced it to revise the prices.

Each bhori of 21-carat gold will cost Tk 105,197, while 18-carat gold’s price has gone up to Tk 90,174. Traditional gold’s price has been set at Tk 74,988.

On May 2, BAJUS slashed the gold prices by Tk 1,878 per bhori (11.664g) on the local market, marking an eighth consecutive price cut.

BAJUS has been frequently revising gold and silver prices in recent weeks. This year, it has already done it more than a dozen times, arguing that the global market is unstable because of conflicts and tensions.

The price of gold often rises at times of uncertainty as it is seen as a safe investment.