Jewellers hiked gold prices again, with the precious metal set to be sold for Tk 138,393 per bhori (11.664 grammes) with effect from tomorrow.

The previous price of each bhori of 22-carat gold ornaments stood at Tk 137,226.

The Bangladesh Jewellers' Association's standing committee on pricing and price monitoring took the decision to raise prices in a meeting today, citing an increase in pure gold prices on 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 domestic supply.

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

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

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

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