Gold Hits Record Globally, Tk133,051 per Bhori in Bangladesh
For the first time, gold prices have surpassed $2,600 per ounce in the global market. Gold prices had been rising steadily in recent days, reaching a record high on Friday. The main reasons for the surge in gold prices include the reduction in U.S. interest rates and escalating tensions in the Middle East.
A significant factor behind the price increase was the U.S. Federal Reserve's decision to cut interest rates sharply on Wednesday. The rate was reduced by 0.50 percentage points, leading to increased investor interest in gold as a safer investment.
Key Stats
Global gold price: Surpasses $2,600 per ounce for the first time
Local gold price in Bangladesh: 22-carat gold reaches Tk 133,051 per bhori (11.664 grams)
2024 global gold price increase: 27% rise so far this year
In 2024, gold prices in the global market have risen by 27% so far, marking the highest increase since 2010. The ongoing conflicts in the Middle East and other parts of the world have created uncertainty, prompting many investors to turn to gold for security.
Analysts suggest that the rise in gold prices may see a temporary pause.
Meanwhile, gold prices have also increased in the domestic market of Bangladesh, setting a new record. On Saturday (September 21), the Bangladesh Jewellers' Association (BAJUS) announced in a press release that the price of the best quality 22-carat gold per bhori (11.664 grams) has been raised by Tk 3,149 to Tk 133,051.
Additionally, the price of 21-carat gold per bhori is set at Tk 126,998, 18-carat at Tk 108,860, and traditional gold at Tk 89,218 per bhori.
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