Dhaka, Bangladesh (BBN) - The price of gold is going to increase in the local market from Tuesday due mainly to upward trend of its price in the global market and depreciation of the local currency against US dollar.
The price of 22-carat gold will be increased by BDT 1283 per 'bhori' (11.664 gram) from Tuesday in the local market, a Bangladesh Jewellers Samity (BJS) leader said on Monday.
He also said the price of 21-carat gold will be increased by BDT 1,282 per 'bhori', 18-carat by BDT 1,108, and traditional gold by BDT 1,049 per 'bhori'.
The newly-fixed prices of gold are: 22-carat BDT 57,736 per bhori, 21-carat BDT 55,170, 18-carat BDT 47,297, and traditional gold BDT 36,158 per bhori.
"We are bound to increase the price due to price hike in the international market within a span of 10 days," the BJC leader said, adding that the global market price of gold was around $1,672 per ounce when they decided to re-fix gold prices in the local market.
BBN/SSR/AD-24Jan12-1:47 am (BST)