New day, new record for gold price

Within a day of hiking prices, the Bangladesh Jewellers' Association (Bajus) today increased gold prices again after the precious metal hit a global record, surpassing $4,100.

Bajus said the new rate of gold will be Tk 216,332 per bhori, or approximately 11.664 grammes, breaking the previous record of Tk 213,719 set yesterday.

The association announced the new rate — to take effect from tomorrow — just hours after global gold prices jumped to a record high, supported by rising expectations of a US Federal Reserve rate cut this month and safe-haven demand following renewed US-China trade tensions, Reuters reports.

Spot gold rose 0.6 percent to $4,132.89 per ounce (28.35 grammes) as of 0950 GMT, after hitting a record high of $4,179.48 earlier in the session.

In Bangladesh's taka terms, the price per ounce of gold in the international market is now over Tk 500,000.

US gold futures for December delivery gained 0.4 percent to $4,149.20, according to Reuters.

With the latest spike, gold prices in Bangladesh have risen by Tk 21,000 per bhori since the beginning of this month.

In September alone, the price of 22-carat gold increased by more than Tk 16,000 per bhori.