Gold prices shoot amid pandemic

Bangladesh Jewellers Samity (BAJUS) has announced an increase in prices of all types of gold by Tk 5,715 per bhori as prices went up in the international market amid the global coronavirus crisis.

The decision of the price hike was made public in a press release issued Monday signed by Dilip Kumar Agarwala, general secretary of BAJUS.

The new rates will come into effect from today (Tuesday).

Under the increased rates, 22-carat gold will be sold at Tk 69,867 per bhori, 21-carat gold at Tk 66, 718, and 18-carat gold will be sold at Tk 57,970 per bhori in the local market.

Meanwhile, the price of the 21-carat cadmium silver has been fixed at Tk 933 per bhori in the new rates.

According to BAJUS, the price of gold is currently the highest in the global market in the last 8 years. As a result, the price of gold has increased in the country’s bullion market. Gold traders also claim to be in a loss as sales in the local market see continuous decline given the worldwide Covid-19 pandemic.

Considering the overall situation, the members of the executive committee of the association have rescheduled the price of gold and silver through a teleconference.