Bangladesh Jewellers Association (BAJUS) has hiked the price of gold today to a historic peak, increasing it by Tk 1,750 per bhori (11.664 grams), thereby setting the price of 22-carat gold at Tk 117,573 per bhori.

This adjustment reflects the fastest pace of growth in the global gold market and marks the highest pricing for gold in the nation's history.

Following the global trend, BAJUS announced the price increment on Monday, effective from 4 pm the same day, as detailed in a press release. This announcement came closely after a similar increase was instituted on Saturday, cumulatively elevating the gold price by Tk 3,499 per bhori over just two days.

Under the new pricing regime, gold of various purities will see revised rates: 22-carat gold is now priced at Tk 117,573 per bhori, or Tk 10,080 per gram; 21-carat at Tk 112,208; 18-carat at Tk 96,228; and traditional gold is set at Tk 80,190 per bhori.

While the cost of gold has seen significant adjustments, the price of silver remains constant, with 22-carat silver priced at Tk 2,100, 21-carat at Tk 2,006, 18-carat at Tk 1,715, and traditional silver at Tk 1,283 per category.

This upward trajectory in gold prices aligns with the global market trends, where the price per ounce (31.103 grams) has escalated to US $2,329, a stark rise from prices below $2,000 observed on February 14.

The surge in gold prices on the international stage is largely attributed to anticipations of a policy interest rate cut by the Federal Reserve of the USA, sparking a rapid increase in gold investments. This phenomenon has significantly influenced the pricing strategy of gold in Bangladesh, reflecting the interconnected nature of global financial markets and commodities.