Gold set to cross Tk 2.20 lakh for the first time

Just a day after hiking prices to a historic high, the Bangladesh Jewellers Association (Bajus) today announced that gold will be priced at Tk 222,082 per bhori tomorrow, setting a new record.

The new price is 1.8 percent, or Tk 3,966, higher than Tk 218,116 per bhori, which Bajus declared on December 21, surpassing the previous high of Tk 217,381 per bhori.

The association made the announcement hours after the yellow metal crossed the $4,400-per-ounce level for the first time in the global market, driven by expectations of US rate cuts and continued safe-haven buying. Silver followed suit, soaring to a new record high, reports Reuters.

Spot gold climbed 2 percent to reach a new record high of $4,426.66 per ounce as of 1313 GMT.

US gold futures for February delivery rose 1.5 percent to $4,451.60 an ounce, equivalent to 28.3495 grammes.