Gold prices are set to hit roughly Tk 150,000 per bhori for the first time, making the metal more expensive for buyers.

Today, the Bangladesh Jewellers' Association (Bajus) decided to hike the price of gold to Tk 12,844 per gramme from tomorrow, up by 1.34 percent from nearly a week ago's Tk 12,673, due to the increase in the price of pure gold in the domestic market.

Based on the new rate, a customer will have to pay Tk 149,812 per bhori or 11.664 grammes, with effect from tomorrow, said a press release from Bajus.

The previous price of each bhori of 22-carat gold was Tk 147,806.

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Local gold price hits new record

The price of gold, for which Bangladesh is highly dependent on foreign sources, has been rising steadily for more than a year, influenced by hikes in the international market and volatility in domestic supply.

In July 2023, the price of gold crossed the Tk 100,000 mark for the first time in Bangladesh.

The country requires between 20 and 40 tonnes of the metal, and about 80 percent of the demand is met through smuggling.