The Bangladesh Jewellers Samity (Bajus) has announced an increase in the price of gold by Tk1,166 per bhori. This decision was made in response to the rise in the price of gold in the local market. The new price is set to go into effect from Tuesday.
With the new price adjustment, the cost of 22-carat gold will be Tk1,09,291 per bhori, up from the previous price of Tk1,08,125. Additionally, 21-carat gold will cost Tk1,04,334, 18-carat gold Tk89,404, and gold using the traditional method Tk74,532.
The recent price increase comes after a previous reduction in the gold price by Tk1,750 per bhori on December 6th, following a record high price. In November, the price of 22-carat gold hit Tk1,09,875 per bhori, marking the highest price in the history of Bangladesh. Throughout the month of November, the price of gold increased four times.
The rise in the price of gold reflects the volatility of the market, impacted by factors such as international economics, the value of the dollar, and consumer demand. Additionally, gold is often seen as a safe haven investment during times of economic uncertainty, which drives up its price. The continuous fluctuations in gold prices can have significant implications for the jewelry industry and consumers alike, influencing purchasing decisions and overall economic stability.
