When gold prices reached a record high of Taka 124,501 a bhori, the Bangladesh Jewellers Association (Bajus) made the decision to implement the rate immediately.
The price of pure gold was increased by the local jewelers by Taka 1,516 per bhori (11.664 grams), as stated in a news statement issued by the BAJUS.
In a meeting yesterday, the BAJUS Standing Committee on Pricing and Price Monitoring decided to raise the price, citing a rise in the price of pure gold on the local market.
Previously, on August 18, BAJUS raised the price of gold to Taka 122,985 per bhori, which was the previous all-time high.
On July 20 of last year, gold prices in Bangladesh surpassed Taka 100,000 per bhori for the first time.
Due to supply instability in the domestic market and increases in the global market, gold prices have been climbing for over a year.
Between 20 and 40 tons of gold are needed annually in Bangladesh.
