Gold price hits new record again

The Bangladesh Jewellers’ Association (Bajus) has set a new record price for gold, with each bhori (11.664 grams) now selling at Tk 119,637, up from the previous rate of Tk 117,573. This price increase is attributed to global gold market fluctuations, as Bangladesh imports only a small portion of its gold demand, with the majority being met through smuggling. The Bangladesh Bank had previously taken steps to discourage gold imports by requiring a 100% margin on letters of credit for gold, in an effort to save foreign currency.