Bangladesh’s Jewellers Adjust Gold Prices Upward Once Again

In a notable development, Bangladesh’s jewellers have opted to raise the price of 22-carat gold by Tk1,831 per bhori in the local market, marking yet another adjustment in response to market dynamics. The new price of 22-carat gold now stands at Tk1,17,281 per bhori, as communicated in a press release by Masudur Rahman, chairman of the Standing Committee on Price Determination and Price Monitoring of Bangladesh Jewelers Association (Bajus). This decision comes in light of the escalating price of acid gold within the local market, prompting the need for a revision. Effective from Sunday, the revised prices reflect the current market conditions, with fluctuations becoming increasingly common. Despite recent downward adjustments, the announcement signals a shift in trend, as gold prices witness a consecutive upward adjustment after a series of reductions in previous weeks. As Bangladesh’s jewellery sector navigates these fluctuations, silver prices remain unaffected, providing a semblance of stability amidst the changing market landscape.