Gold price is set to increase by 2.4 percent from tomorrow because of a rise in the rates of pure gold in the local market, the Bangladesh Jewellers Association (Bajus) said today.

People will have to buy the precious metal at Tk 99,377 a bhori (11.664 grams), up by Tk 2,332 from existing price of Tk 97,044 a bhori for the 22-carat golds.

Bajus hiked the price a week after it reducing its rates for the domestic market.

The association cut the gold prices in three phases from over Tk 100,000, which prevailed for more than a month.

The Bajus also increased prices of gold of other grades.

It, however, kept the prices of 22-carat silver unchanged at Tk 147 per gram or Tk 1,714 a bhori.

It asked the jewellery traders to follow the new rates until further decision.

The prices of gold, the popular metal used mainly for ornaments, have been fluctuating for over a year.