The new rate, Tk Tk.202,195 per bhori, is set to come into effect from tomorrow, 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, the price of 22-carat gold by more than Tk 16,000 per bhori.
Insiders attribute the surge mainly to the international bullion market, the depreciation of the taka, economic uncertainty, and high inflation.
Despite 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.
Bangladesh does not import large quantities of gold domestic prices remain closely tied to global market trends.
