Gold prices to go up from today
Gold prices will rise in the domestic market from today (Sunday) after three months of a static price range following sharp hike in its value in the international market, traders said.
"The prices of gold will increase by Tk 1,049 to Tk 1,517 a bhori (11.664 gram) depending on different categories in the local market which will be effective from Sunday," BJS (Bangladesh Jewellery Samity) general secretary Dewan Aminul Islam Shahin told the FE Saturday.
The price of 22-carat gold will go up by Tk 1,517 per bhori, that of 21-carat gold also by Tk 1,517, 18-carat by Tk 1,283 and the traditional gold by Tk 1,049.
The newly fixed prices of gold are: one 'bhori' of 22-carat gold Tk 57,970, 21-carat Tk 55,404, 18-carat Tk 47,472 and the traditional gold Tk 36,041, according to the BJS. On May 20 last, the prices of gold were: one 'bhori' of 22-carat gold Tk 56,453, 21-carat Tk 53,887, 18-carat Tk 46,189 and the traditional gold Tk 34,992.
The BJS GS said: "The price of gold fluctuated from $ 1,620 to $ 1,673 in last four days in the international market and due to the Eid-ul-Fitr vacation re-fixing of its prices in the local market has been delayed."
"We had been observing the trend of price of gold in the international market since June and found that it was fluctuating."
"On Saturday, we opened our jewellery shops in the city after the Eid vacation and fixed the new prices following discussion with the BJS leaders," he said.
Mr Shahin said: "The price of gold is gradually increasing due to long-term economic recession in the European market, upcoming USA election, Syria and Lebanon crises and other issues."
He added: "Investment in gold is safer and it is profitable. That's why international investors are showing interest to invest in gold. Thus the price of gold is likely to go up more in few days."
"The prices of gold will increase by Tk 1,049 to Tk 1,517 a bhori (11.664 gram) depending on different categories in the local market which will be effective from Sunday," BJS (Bangladesh Jewellery Samity) general secretary Dewan Aminul Islam Shahin told the FE Saturday.
The price of 22-carat gold will go up by Tk 1,517 per bhori, that of 21-carat gold also by Tk 1,517, 18-carat by Tk 1,283 and the traditional gold by Tk 1,049.
The newly fixed prices of gold are: one 'bhori' of 22-carat gold Tk 57,970, 21-carat Tk 55,404, 18-carat Tk 47,472 and the traditional gold Tk 36,041, according to the BJS. On May 20 last, the prices of gold were: one 'bhori' of 22-carat gold Tk 56,453, 21-carat Tk 53,887, 18-carat Tk 46,189 and the traditional gold Tk 34,992.
The BJS GS said: "The price of gold fluctuated from $ 1,620 to $ 1,673 in last four days in the international market and due to the Eid-ul-Fitr vacation re-fixing of its prices in the local market has been delayed."
"We had been observing the trend of price of gold in the international market since June and found that it was fluctuating."
"On Saturday, we opened our jewellery shops in the city after the Eid vacation and fixed the new prices following discussion with the BJS leaders," he said.
Mr Shahin said: "The price of gold is gradually increasing due to long-term economic recession in the European market, upcoming USA election, Syria and Lebanon crises and other issues."
He added: "Investment in gold is safer and it is profitable. That's why international investors are showing interest to invest in gold. Thus the price of gold is likely to go up more in few days."
