Gold Price Hits New Record

For the first time in the global market, the price of one ounce of gold exceeded $2,300. With this, a new history has been created in the price of this expensive metal in the world market.This time this metal is going to set the highest price record in the country’s market as well.

Bangladesh Jewelers Association (Bajus) will announce the increase in gold prices on Saturday (March 6).

The new price of gold will be effective in the market from tomorrow, Sunday (March 7). If the price is increased, the price of gold will break all the records of history and create a new history.

Bajus sources say that the price of gold per ounce in the global market has increased by about $200 after the latest gold price was fixed in the country’s market. In this situation, there is no other alternative without increasing the price of gold in the country’s market. The gold prices will be increased after reviewing the information of the international market and local bullion market. For this, the Bajus Standing Committee on Pricing and Price Monitoring Committee will meet today and decide.

Bajus officials said that currently, the price of gold is very high. That’s why, there is a “slowdown in this business” even before Eid. “People are not buying gold ornaments” much. However, the price of gold in the international market is increasing by leaps and bounds. As a result, even if there is no sale, the price of gold is “being forced to increase” before Eid, they added.

The price of gold in the country’s market was last fixed on March 21, which is effective from March 22. The Bajus Standing Committee on Pricing and Price Monitoring Committee cited the reason for the increase in the price of acid gold in the local market and fixed the price of the best quality or 22-carat gold by Tk 2,916 to Tk 114,074.

Apart from this, the price of one bhori of 21-carat gold has been increased by Tk 2,741 to Tk 108,883, the price of one bhori of 18-carat gold has been increased by Tk 2,333 to Tk 93,312 and the price of one bhori of traditional gold has been increased by Tk 1,983 to Tk 77,779. The price of gold has never been so high in the country’s market. Currently, gold is being sold at this price.

However, buyers have to pay more than this to buy gold jewelry – because gold jewelry is being sold by adding 5 percent VAT on the price fixed by Bajus. Along with that, the minimum wage per shift is Tk 3,499. As a result, buyers have to pay Tk 123,277 to buy a bhori of 22-carat gold jewelry from tomorrow.

When the price of gold was last fixed in the country’s market, the price of gold per bhori in the global market was around $2,155. Now that price has increased to $2,329. That is, the price of gold per bhori has increased by $174 in the world market, which determines the price of gold in the country’s market.

Among them, the price of gold per bhori increased by $97.14 or $3.52 in the last one week. Among these prices, the price of gold increased by $40.09 or $1.75. At the end of the week, the price of gold per bhori stood at $2,329.52, the highest gold price in the global market so far.