Gold set to hit all-time high of Tk 2,52,467 per bhori

Gold is set to reach Tk 2,52,467 per bhori tomorrow, marking a historic high, after the Bangladesh Jewellers Association (Bajus) further increased prices.

Today, Bajus hiked the price set the price at Tk 2,44,127 per bhori (11.664 grammes), following a surge in international gold rates. On Tuesday, gold climbed to $4,700 per ounce (28.35 grammes).

The latest hikes continues a series of historic hikes in recent weeks, with 22-carat gold climbing from Tk 2.30 lakh three weeks ago to Tk 2.44 lakh on Tuesday. Prices have been rising for three consecutive days now.

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Gold prices break all records

The precious metal, often considered a safe-haven investment, breached $4,800 per ounce for the first time today, as rising geopolitical tensions, including US President Donald Trump’s Greenland developments, drove demand.

Spot gold was up 2.1 percent at $4,865 per ounce by 9:30 am ET (1430 GMT), after earlier touching $4,887.82, while US gold futures for February delivery rose nearly 2 percent to $4,858.3 per ounce.

Following the international gains, Bajus announced the new domestic rate, which is Tk 8,340 higher than today’s price, a 3.4 percent increase, citing higher pure gold prices in the local market as the reason for the hike.