Gold price hiking makes history

The price of gold will be Tk 112,907 per bhori starting on Thursday, which would be the highest in the history of Bangladeshi market. 

A bhori, weighing 11.664 grams and made of 22-carat gold, used to cost Tk 1.1 lakh.

The standing committee on pricing and price monitoring of the Bangladesh Jewellers' Association (Bajus) decided to increase the price during a meeting on Wednesday. They gave as their reason the rising cost of pure gold on the local market. 

In July of last year, the price of gold in Bangladesh surpassed Tk 100,000 for the first time. 

Gold prices have been rising for more than a year as a result of supply volatility on the domestic market and increases on the international market. 

Bangladesh is not a major importer of gold, but when it is, the price is almost always consistent with world prices.

Bangladesh needs between 20 and 40 tonnes of gold every year.

/MHK/