Dhaka, Nov 28 (BDNEWS) - The gold prices have gone up by around five percent in a week and by nearly Tk 3000 in a year in the local market.
President of the Bangladesh Jewellery Association, MA Wadud, said the price of 22-carate gold was Tk 12,300 per tola (11.664 gram) and 21-carate gold Tk 11,800 per tola only a week ago. The prices rose to Tk 12,900 and Tk 12,300 per tola on Monday.
Increase in gold price in the international market was cited as the reason for the latest rise in its prices in the local market.
In October last year, the prices of 22-carate and 21-carate gold were Tk 10,000 and Tk 9,700 per tola respectively.
In the international market, gold prices hit an 18-year high of $498 per ounce Monday in Asia. Prices of spot gold rose to $498.30 per ounce - the highest since December 14, 1987 - before easing slightly to $498.10/498.90. The metal was last quoted at $495.50/496.30 an ounce in London Friday.
Asked, Wadud said the gold price rose in the local markets due to its price hike in international markets.
He said international conflicts, Iraq war, diversion of capital from share market to gold business and people's reluctance to buy dollar for high rate are the factors that jacked up gold prices in the global markets.
BDNEWS/2119 hrs.
