Gold soars to record Tk 202,195 per bhori

Gold prices have surged to yet another historic peak, reaching Tk 202,195 per bhori (approximately 11.664 grammes) and surpassing the record set only a day earlier.

The new rate, reflecting an increase of Tk 1,420 per bhori, is set to come into effect from tomorow, the Bangladesh Jewellers Association (Bajus) announced today.

Prices of the precious metal in Bangladesh have been rising steadily, setting new records almost every week. In September alone, the price of 22-carat gold rose by more than Tk 16,000 per bhori.

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

Despite the onset of the festive season, including Durga Puja, and the approach of winter -- traditionally a peak period for jewellery sales -- traders report a sharp decline in customer demand.

Several jewellers in Dhaka said their sales have halved in recent weeks.

Although Bangladesh does not import large quantities of gold, domestic prices remain closely tied to global market trends.