Suddenly the price of gold increased in the world market
There has been a sudden rise in the price of gold in the world market over the last week. Gold rose by more than $25 per ounce in a week. Through this, after falling in price for about a month, the trend of gold prices in the world market has been seen to increase. Although the price of gold has increased in the global market, no decision has been taken to change the price of gold in the country’s market. However, if the trend of price increase continues, the decision to increase the price of gold in the country market may come next Monday (October 25).
In this regard, General Secretary of Bangladesh Jewelers Association (BAJUS) Dilip Kumar Agarwala said, "We have seen the issue of rising gold prices in the world market. The decision to adjust the price of gold in the country's market has not yet been taken. We'll see you next Monday. If the trend of rising prices in the global market continues, the price of gold will be adjusted in the domestic market as well.
A review of the data shows that ever since the outbreak of the pandemic coronavirus around the world, there has been widespread volatility in the price of gold in the global market. Gold prices are on an upward trend throughout the months of April and May, despite a slight fall in prices.
In May, the price of gold increased by leaps and bounds in the world market. Bangladesh Jewelers Association increased the price of gold by 4 thousand 374 taka in two phases in the country's market. In the beginning of June, there was a big fall in gold prices in the world market. As a result, the price of gold was reduced in Bangladesh.
But in the middle of August, there was a lot of volatility in the gold prices in the world market. Through several ups and downs, at one point the price of gold rose to one hundred dollars per ounce. As a result, the price of gold in Bangladesh also increased.
In September, the price of gold fell again. As a result, the price of gold was reduced in the Bangladesh market. Last October 1, Bangladesh Jewelers Association (BAJUS) set the new price of gold by 1 thousand 516 taka. The best quality or 22 carat gold (11.664 grams) is being sold at 71 thousand 967 taka, 21 carat gold at 68 thousand 818 taka, 18 carat gold at 60 thousand 70 taka. And according to the traditional method, full gold is being sold at 49 thousand 747 taka.
After reducing the price of gold in Bangladesh, there was a big rise in the price of gold in the world market last week. The price of gold per ounce was 1 thousand 767.34 dollars before trading started on the world market on Monday, the first working day of last week. And at the end of the week it has risen to one thousand 792.79 dollars. The price of gold per ounce increased by 25.45 dollars or 1.44 percent over the week.
Apart from gold, there has been a big rise in the price of silver in the world market in the last week. The price of silver has increased by 4.39 percent in the last one week. The price of silver rose to 24.30 dollars per ounce. Another precious metal, platinum, has fallen in price. Last week, the price of this metal decreased by 1.31 percent. In this, the price of platinum per ounce stands at 1 thousand 40.68 dollars.