Bangladesh Jewellers Samity (BJS) is going to increase the price of gold ornaments as the price of bullion registered a record high of $1,217 per ounce in the international market on Wednesday.
The jewellers will sit in a Continued from page 1 col. 2
meeting either today (Thursday) or Saturday and revise the rate, BJS general secretary Enamul Haque Khan told the FE.
"It is expected that the new price will be effective from Sunday," he said adding, "If
| Date | 18-carat | 21-carat | 22-carat |
| 11-02-09 | Tk 22,278 | Tk 25,194 | Tk 26,360 |
| 19-02-09 | Tk 23,094 | Tk 26,127 | Tk 27,352 |
| 03-06-09 | Tk 23,794 | Tk 27,118 | Tk 28,334 |
| 22-06-09 | Tk 23,094 | Tk 26,127 | Tk 27,352 |
| 01-07-09 | Tk 23,852 | Tk 27,000 | Tk 28,285 |
| 07-09-09 | Tk 24,786 | Tk 27,993 | Tk 29,334 |
| 10-10-09 | Tk 26,127 | Tk 29,334 | Tk 30,674 |
| 09-11-09 | Tk 27,118 | Tk 30,443 | Tk 31,842 |
| 18-11-09 | Tk 27,993 | Tk 31,376 | Tk 32,892 |
| 25-11-09 | Tk 28, 926 | Tk 32,484 | Tk 34,000 |
Gold ornaments of 22-carat are being sold at Tk 34,000 per bhori (11.664 gram) in the local market.
The price hike may have a negative impact during the on-going wedding season, he said.
November-February period is considered as wedding season and gold demand picks up in the period.
Local price depends on the international market and it is very volatile this year, Mr Enam said.
The BJS revised gold price 10 times this year and the last one was on November 25.
The price of gold has soared by more than 55 percent in value over the past 12 months.
There is no statistics of gold demand in the country but on an average everyday 3,000-4,000 bhori's of gold enters the country in legal way, Mr Enam said.
The International Monetary Fund last week announced that it had sold 10 tonnes of gold to Sri Lankan central bank for $375 million and a recent newspaper report that India was mulling purchase of more IMF gold reserves also cast an impact on gold price hike.