Gold sets fresh record, crosses Tk 195,000

Gold prices have risen for the second time in a week, hitting an all-time high of Tk 195,383 per bhori (11.664 grammes).

The new rate, announced by the Bangladesh Jewellers Association (Bajus), will come into effect tomorrow.

According to Bajus, the price has increased by Tk 525 per bhori compared to the previous rate. The association said the adjustment reflects a rise in the price of pure gold in the local market.

On September 23, the price of gold reached Tk 194,858 per bhori before falling by Tk 1,889 to Tk 192,969.

Gold prices in Bangladesh have been climbing steadily, setting new records almost every week. In September alone, the price of 22-carat gold has jumped by over Tk 16,000 per bhori.

Industry insiders attribute the surge mainly to the international bullion market, the devaluation of the taka, economic uncertainty, and high inflation.

Although Bangladesh does not import significant volumes of gold, domestic prices remain closely aligned with global trends.

The country's annual demand for gold is estimated at 20-40 tonnes, with nearly 80 percent reportedly met through smuggling.