Gold prices hike in local market...

Gold prices hike in local market

 Staff Correspondent daily-bangladesh.com

 Published: 08:28 PM, 17 May 2022   Updated: 08:28 PM, 17 May 2022

Gold; File Photo

Gold; File Photo

The gold prices have increased in the country’s market due to the increase in US dollars including war and the global economic situation. The price of the best quality gold has been increased by Tk 1,749 and fixed at Tk 78,265 per bhori.

“The new price of gold will be effective from Wednesday,” said the Bangladesh Jewelers Shamity (BAJUS) on Tuesday.

The price of all kinds of gold has been increased along with good quality gold. As per that the price of gold has been increased from Tk 1,167 to Tk 1,749 per bhori. However, the price of silver remained unchanged.

The Standing Committee on Pricing and Monitoring of BAJUS met on Tuesday and decided to increase the price. The decision to increase prices was later announced in a notification signed by MA Hannan Azad, chairman of the Standing Committee on Pricing and Price Monitoring.

The notification said the US dollar and other currencies have risen at an “unusual rate” due to the war and the global economic situation. Gold prices have also risen in the local bullion market. Therefore, considering the overall situation, the BAJUS has set a new price for gold – which will be effective from May 18.

According to the new price, the price of the best quality or 22-carat gold (11.64 grams) has been increased by Tk 1,749 and fixed at Tk 78,265 per bhori.

Besides, the price of 21-carat gold has been increased by Tk 1,691 and fixed at Tk 74,708 per bhori. The price of 18- carat gold has been increased by Tk 1,399 and fixed at Tk 64,035 per bhori. Besides, the price per traditional method gold has been increased by 1,167 and fixed at Tk 53,363 per bhori. 

Although the price of gold has increased, the price of silver has remained the same. The price of 22-carat heavy silver has been fixed at Tk 1,516. The price of 21-carat silver has been fixed at Tk 1,225, and the traditional method of silver at Tk 933. 

Earlier, on April 28 and May 11, the price of gold in the domestic market was reduced twice, in the context of reducing prices in the international market and in the local bullion market. From May 11, the price of the best quality or 22-carat gold was reduced by Tk 1,166 and fixed at Tk 76,516.

Besides, the price of 21-carat gold was Tk 73,017, the price of 18-carat gold was Tk 62,736 and the price of traditional gold was Tk 52,196. Gold has been sold at this price till today.

DailyBangladesh/AS