Gold price goes up from today

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Sonia H Moni
The price of gold will go up from today (Sunday) after more than one month of continuous downward trend in the local market following sharp rise in the international market, traders said.
"The price of a bhori (11.664 gram = one bhori) of 22-carat gold will be Tk 56,453 from Sunday as Bangladesh Jewellers Samity (BJS) leaders have re-fixed the gold price with the international market price hike," BJS general secretary Dewan Aminul Islam Shahin told the FE Saturday.
"The price of gold per ounce increased by $ 60 in the international market within one day and reached $1590 to $1597."
"Only one day back that means on May 18 the international market price fluctuated form $1530 to $1540 until evening, according to different websites," he added.
He said the price of different carat gold will increase by Tk 900 to Tk 1700 as per the recent decision of the local jewelers.
The price of 22-carat gold will go up by Tk 1166 per bhori, 21-carat by Tk 1050, 18-carat by 933 and the traditional gold by Tk 1707.
The newly fixed prices of gold are: one 'bhori' 22-carat gold Tk 56,453, 21-carat Tk 53,887, 18-carat Tk 46,189 and the traditional gold Tk 34,992, according to the BJS.
On May 18, one 'bhori' 22-carat gold was re-fixed at Tk 56,453, 21-carat Tk 53,887, 18-carat Tk 45,256 and the traditional gold Tk 33,825, according to the BJS.
The BJS GS said, "We will be able to know the trend of gold price in the international market Monday as it is first working day."
Meanwhile, the international analysts who follow technical-chart patterns think that gold could reach $1,625-$1,640 next week if momentum continues, according to the www.kitco.com