bdnews24.com :
After gold prices dipped in the domestic market thrice over a span of few months last year, it has increased on an average by Tk 1500 per ‘bhori’ (11.664 grams) in the local market due to upward price trend in the international market and high demand of the precious metal in the local market.
The new prices will come into effect on Sunday, Bangladesh Jewellers Samity (BJS) General Secretary Dewan Aminul Islam Shahin told bdnews24.com on Saturday.
Shahin said that the international market price of 22-carat gold increased by US$ 100 per ounce over the last one month.
“A month ago, the price of 22-carat gold in the international market was between US$ 1230 to US$ 1250 per ounce while the current price is US$ 1320.”
Gold prices in the local market declined thrice – on Sept 15, Nov 15 and Dec 18 last year – as the rate of the glittering metal in the global market marked continued downward trend.
BJS leader Shahin said that gold prices in the domestic market are adjusted based on global market prices, supply and demand in the local market.
“At the end of the last year, the jewellery shops remained shut across the country for some days due to strikes, transports blockades and political unrest. Though December is considered as a good season for jewellery business, it witnessed a downward demand.”
Explaining the reason Shahin further said: “Though it was a season of marriage ceremonies, but there were less weddings. So the demand for gold was also low. The gold prices declined because of these facts.”
The BJS General Secretary said: “But the demand for gold in the domestic market has increased since the situation has improved now. This is one of the reasons for the hike in prices.”
As per the new rate, the price of 22-carat gold has been revised to Tk 48,405 per “bhori” and the prices of 18-carat, 21-carat and traditional gold to Tk 46,247, Tk 38,432 and Tk 27,410 per “bhori” respectively.
Besides, the price of per “bhori” 21-carat silver (Cadmium) has been refixed at Tk 1283.
On Saturday, ornament-grade 22-carat gold was selling for Tk 46,947 per “bhori” at the city’s jewellery shops, while 21-carat gold for Tk 44,848, 28-carat gold for Tk 38,432 and traditional gold for Tk 26,244.
Besides, 21-carat silver (Cadmium) was selling for Tk 1224 per “bhori”.
