Gold price jumps to Tk 213,719 a bhori

Gold prices are set to rise again after holding steady for two days, with the new rate of Tk 213,719 per bhori announced by the Bangladesh Jewellers Association (Bajus) to take effect tomorrow.

The increase of 2.5 percent, or Tk 5,249 per bhori, marks the fourth rise in gold prices this month amid surging international rates, the association said today.

The announcement comes just two days after Bajus last raised prices. With this increase, gold prices have now risen four times this month.

The association attributed the spike to rising prices of pure gold in the domestic market.

In the international market, gold prices climbed to a three-week high today, supported by expectations that upcoming US economic data, following the government's reopening, could strengthen the case for a Federal Reserve rate cut next month, Reuters reported.

Spot gold gained 0.4 percent to $4,215.49 per ounce as of 09:36 a.m. ET (11:47 GMT), its highest since October 21. US gold futures for December delivery rose 0.2 percent to $4,220 per ounce, the report added.

In Bangladesh, gold hit a historic peak of Tk 217,381 per bhori, or approximately 11.664 grammes, on October 20.