Record-Breaking Gold Prices in World Market, May Impact Bangladesh

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14 Sep 2024, 16:50

Photo: Collected

A new history has been created in the gold price, breaking all previous records in the world market. For the first time in the world market, the price of one ounce of gold exceeded 2,550 dollars. As such, the price of this expensive metal can rise to a new record in the Bangladeshi market at any time.

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It is known that at the beginning of last week, the price of gold per ounce was 2,486.96 dollars. From there, the gold price per ounce settled at 2,578.48 dollars at the end of the week. That is, the price of gold per ounce increased by 91.52 dollars or 3.68 percent during the week. The price of gold per ounce increased by 20.03 dollars or .78 percent on the last working day of the week.

Earlier, the price of one ounce of gold rose to a maximum of 2,529.90 dollars. This is the price of gold on August 20 of this year. Due to this price increase in the world market, the price of gold was also increased in the country market at that time. The best quality or 22-carat gold per bhori is priced at Tk1,27,942. This is the highest price of gold in the country's market so far.

Bangladesh Jewelers Association (BAJUS) determines the price of gold in the country's market. According to the latest price offered by the organization, the price of the best quality or 22-carat gold per bhori has been reduced by Tk1,621 to Tk1,26,321. The price of 21-carat gold has been reduced by Tk1,540 to Tk1,20,582. Apart from this, the price of 18-carat gold has been reduced by Tk 1,329 to Tk1,03,355. The traditional gold price per bhori of gold has been reduced by Tk1,097 to Tk85,450. This price was fixed on September 2. Currently, gold is being sold at this price in the country's market.

BAJUS Standing Committee on Pricing and Price Monitoring Committee decides to increase or decrease the price of gold on behalf of the organization. A member of this committee said, "The price of gold in the world market has increased at an unusual rate. In the last week, the price of gold has increased by almost 100 dollars per ounce. Per ounce of gold can become 2,600 dollars at any moment. The rate at which the price of gold is increasing in the world market, the gold price of the country will also need to be increased. There is no alternative.

He said, "We decided to increase or decrease the gold price based on the international market as well as the local market. When the gold price rises in the local market, it is naturally decided to increase the price. Again, when the gold price falls, it is decided to reduce the price. The world market prices affect the country's gold prices.

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