Gold price hiked by Tk 1400 per bhori

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The Bangladesh Jewellers’ Samity (BJS) on Saturday decided to increase the price of gold.

According to the new rate, price of per gram gold has been increased by Tk 1,400 per bhori (11.664 grams).

As winter begins in Bangladesh—the wedding season in the country, jewellers have hiked gold prices, after cutting the rate in late September.

In a statement on Saturday, the trade body, Bangladesh Jewellers Samity, said the new prices will be effective from Sunday, with finest quality 22-carat gold costing Tk 4,220 per gram, which is about 3 percent higher.

Prices were last revised on Sep 26 this year, when it was cut for a second time in two weeks.

As the peak wedding season approaches, the finest quality of gold sees almost a 3 per cent rise. The price of silver has also gone up.

Dilip Kumar Agarwala, general secretary of the jewellers’ association, said international global prices and rising local demand were behind the latest revision.

“The demand has climbed as November and December are the wedding season in Bangladesh,” Agarwala added.