Gold hits Tk 2.62 lakh, makes another record

With gold hitting a new record in the global market, prices of the precious metal have reached a fresh high of Tk 262,440 per bhori, breaking all previous records.

The new rate will come into effect tomorrow, according to an announcement by the Bangladesh Jewellers Association (Bajus) today.

The price is 2.04 percent, or Tk 5,248, higher per bhori (11.664 grammes) than Tk 257,191, at which gold was traded in the country.

The association said prices of pure gold and silver have increased in the market.

The announcement came hours after gold prices marched to record levels above $5,100 in the international market today, as investors sought a safe haven amid global political tensions.

Silver and platinum also climbed to all-time highs.

Spot gold rose 2 percent to $5,079.66 an ounce by 8:15 a.m. ET (1315 GMT), after hitting a record $5,110.50. US gold futures for February delivery gained 2 percent to $5,078.50.

Prices were also supported by weakness in the US dollar, which lingered near a multi-month low, making dollar-priced assets more affordable for holders of other currencies.

For precious metals this year, the major drivers are going to be "Trump and Trump," said Adrian Ash, head of research at online marketplace BullionVault.

"A wave of new first-time investing is driving this move in precious metals. It is being led by private investors across Asia and Europe, rushing to build their personal holdings of gold and silver," he added.

In Dhaka, this is the third consecutive day of a rise in gold prices.