The jewellers hiked gold prices again as the precious metal will be sold at Tk 143,525 a bhori with effect from tomorrow.

The previous price of each bhori or 11.664 grammes of 22-carat gold ornaments was Tk 141,950.

The standing committee on pricing and price monitoring of the Bangladesh Jewellers' Association (Bajus) took the decision of raising the price in a meeting today, citing an increase in pure gold prices in the local market.

The price of gold in Bangladesh has been rising steadily for more than a year, influenced by hikes in the international market and volatility in its supply in the domestic market.

In July last year, the price of gold crossed the Tk 100,000-mark for the first time in Bangladesh.

Although Bangladesh does not import any significant quantity of gold, its prices are almost linked with international trends.

In Bangladesh, the annual demand for gold stands in between 20 and 40 tonnes.

About 80 percent of the demand is met through smuggled gold.