Record-Breaking Milestone: Gold Prices Overcome 1 Lakh Tk per Bhori for the First Time

Record-Breaking Milestone: Gold Prices Overcome 1 Lakh Tk per Bhori for the First Time
Record-Breaking Milestone: Gold Prices Overcome 1 Lakh Tk per Bhori for the First Time (Image Source: thedailystar.net)

Commencing tomorrow, the new rate shall take effect


In an unprecedented development, the cost of each bhori of gold in Bangladesh is poised to soar past the remarkable Tk 100,000 threshold. 


The Bangladesh Jewellers Samity (Bajus) has taken the momentous decision to increase the rates of this precious metal, and the new prices are scheduled to come into effect starting from tomorrow. 


Click here to follow Top Headline News-All about Latest and updated news site in Google News


This will mark the first time in history that gold prices have reached such significant heights in the country.


Following the recent increase, buyers will now be required to pay Tk 100,776 for one bhori, equivalent to 11.664 grams of 22-carat gold, representing a 2.36 per cent rise from the previous price.

Also read :The 2024 Summer Solstice Will Be Historic. Here's Why And What To Expect


Taking into account the recent surge in local market prices of pure gold, Dewan Aminul Islam, Vice President of the Bajus, announced our decision to implement a rate hike. 


He emphasized that this measure was necessary to adapt to the current economic landscape and maintain our commitment to providing high-quality products and services.


He mentioned that there has been a noticeable decrease in the influx of gold, primarily attributed to the implementation of the customs' new baggage regulations.


Elon Musk's Plan to Rebrand Twitter as X Faces Opposition from Crypto Twitter

 

On June 7, the Bajus made their final adjustment to the prices of gold, which is predominantly utilized in the creation of exquisite jewelry. 


Also read :VTT Begins Search For Innovation Partner For Scaling Up Finland's Next Quantum Computer Towards 300 Qubits

The revised rates were formally announced by the standing committee on pricing and price monitoring of Bangladesh Jewellers Samity earlier today.


Over the past year, the value of gold has been steadily climbing, attributed to the fluctuations in the international market and the unpredictable shifts in the domestic supply chain. 


These factors have contributed to a prolonged surge in gold prices, presenting significant challenges to both consumers and the jewelry industry alike.


Rising Metal Prices Impacting Jewelry Affordability and Consumer Spending


Monday Morning in Dhaka: Air Ranked 3rd Most Polluted in the World

 

The surge in metal prices is posing challenges for jewelry affordability, directly impacting the purchasing capacity of numerous households.


Also read :Tank vs. Martin PPV: Here’s How To Watch the Boxing Match Live Online

Ganga Charan Malakar, the chairman of Venus Jewellers, reported a noticeable decline in sales as the prices surpassed Tk 80,000 per bhori.


"We anticipate a further impact on sales due to the escalating prices," he expressed concern.


This sharp increase in prices comes at a time when consumers, especially those belonging to low, fixed, and middle-income families, are already grappling with reduced purchasing power caused by persistent high inflation.


Although inflation in June showed a slight ease, it remained above 9 per cent, as reported by the Bangladesh Bureau of Statistics.


Popular Posts