Gold prices are rising again in the country's market

News Desk: Bangladesh Jewelers Association (BAJUS) is going to take a decision to increase the price of gold in the country's market after reducing the price twice in a week. Sources said that a plan has been taken to increase the price of gold in the world market. According to Bajus sources, in view of the fall in prices in the world market, it was decided to reduce the price of gold in the country's market by Tk 1,018 on December 1, which is effective from December 2.

However, the price of gold has been rising in the world market since the reduction of the price of gold in the country's market. Already the price of gold per ounce has risen by about a hundred dollars. For this reason, plans have been made to increase the price of gold in the country's market. A review of the data shows that gold prices fell in late November. As a result, the price of gold was reduced in the country's market from November 25. The price of gold of good quality, i.e. 22 carats per gram (11.64 grams) was reduced by Tk 2,506 to Tk 83,833. 21 carat 60 thousand 74, 18 carat 61 thousand 938 and 51 thousand 613 rupees per ounce of gold.

Despite the decline in gold prices in the domestic market, the downward trend in gold prices in the world market continues. The price of gold has come down to1,750 per ounce. As a result, Bajus decided to reduce the price of gold by one more point in the country's market. According to the decision of the executive committee of Bajus held on December 1, the price of gold was reduced from December 2. In this phase, the price of good quality gold was reduced by Tk 1,017 per gram, i.e. the price of 22 carat gold (11.64 grams) was fixed at Tk 72,006. The price of 21 carat gold was fixed at 69,518 rupees, 18 carat gold at 70,069 rupees and gold at 50,447 rupees per traditional method.

However, on the day of the announcement of the reduction in the price of gold in the country's market (December 1), there is a hint of a big rise in the world market. The trend of rising prices has continued over the last week. As a result, the price of gold rose by 2.79 percent to 1,838.95 per ounce in the world market last week. The trend of rising gold prices is also seen this week. On Monday, the first working day of the week, the price of gold rose by  28 per ounce to  174. As of the writing of this report, the price of gold has risen to  18 per ounce in the world market.

Bajus, an association of gold traders, is deciding to increase the price of gold in the country's market in view of this increase in the world market. When contacted, General Secretary Dilip Kumar Agarwala said, "We always try to coordinate with the world market." For this reason, the price of gold is reduced twice in a week (November 25 and December 2). Now that the price of gold in the world market is on the rise, the price of gold in the country's market can rise at any time.