Gold prices break all records

Gold prices are set to hit an all-time high of Tk 218,116 per bhori from tomorrow in the local market, breaking the previous high of Tk 217,381 per bhori, the Bangladesh Jewellers Association (Bajus) said today.

The new rate was declared a week after Bajus set the price of the precious metal at Tk 217,067 per bhori, or 11.664 grammes.

The previous high of Tk 217,381 per bhori was announced on October 19, and prices later declined to hover around Tk 200,000 per bhori as global market rates eased slightly.

The yellow metal, known as a safe haven for investment in times of uncertainty, has begun to inch up in recent days.

Last week, Goldman Sachs forecast that gold prices might climb 14 percent to $4,900 per ounce (around Tk 600,000) by December 2026, as it expects structurally high central bank demand and cyclical support from US Federal Reserve interest rate cuts to lift the price of gold, Reuters reported on December 18.

One ounce weighs 28.3495 grammes.