Gold crosses Tk 240,000 a bhori for the first time

Following a fresh record in the global market, the price of gold in Bangladesh is set to surpass previous highs from tomorrow, according to a press release from the Bangladesh Jewellers Association (Bajus).

Gold will be sold at Tk 244,127 per bhori (11.664 grammes) from tomorrow, marking an increase of 2.19 percent, equivalent to Tk 5,249 per bhori, the association said today.

Today, the precious metal traded at Tk 238,878 per bhori, the rate set by Bajus on January 19.

The announcement comes as gold reached a record high in the global market, climbing to an unprecedented $4,700 an ounce (one standard ounce equals 28.35 grammes) amid rising geopolitical tensions that boosted safe-haven demand. Silver also surpassed $95 an ounce for the first time, Reuters reported.

Spot gold rose 1.5 percent to $4,737.18 per ounce by 09:49am ET (14:49 GMT), after reaching a record $4,750.49 earlier in the day. US gold futures for February delivery climbed 3.2 percent to $4,742.70 per ounce.

Locally, Bajus said prices of pure gold have increased in the market. In response to the surge in global prices, the association raised the local rate.