Gold price hiked by Tk 3,045 a bhori again

In the gap of just a day, the jewellers have increased gold prices once again.
From tomorrow, each bhori or 11.664 grammes of 22-carat gold will cost Tk 138,708, the highest ever in the history of Bangladesh.
Citing an increase in pure gold prices in the local market, the Bangladesh Jewellers Association (Bajus) in a meeting of the Bajus Standing Committee on Pricing Monitoring today decided to raise the prices of 22-carat gold by Tk 3,045 per bhori.
Gold prices have been rising steadily for over a year in Bangladesh and crossed the Tk 100,000 per bhori mark for the first time in July last year.
Although the country does not import significant quantities of gold, its prices remain linked with international trends.
Annual demand for gold in the country currently stands at between 20 and 40 tonnes.
At present, about 80 percent of the demand is met by smuggled gold, according to industry people.