Gold price hit record high of Tk 126,006 a bhori

Bangladesh Jewellers Association (Bajus) today set gold prices at a historic high of Tk 126,006 a bhori and decided to bring it into effect from tomorrow.
In a meeting today, the standing committee on pricing and price monitoring of the Bajus took the decision of raising the price citing an increase in pure gold prices in the local market, according to a press release shared by the Bajus.
Earlier, on August 21, Bajus increased gold prices to Tk 124,501 per bhori, which was the previous record.
Bangladesh saw gold prices rise above Tk 100,000 per bhori for the first time on July 20 last year.
Gold prices have been rising for more than a year, influenced by hikes in the international market and volatility in its supply in the domestic market.
Although Bangladesh does not import any significant quantity of gold, its prices are almost linked with international trends.
In Bangladesh, the annual demand for gold stands in between 20 tonnes and 40 tonnes.