Raising gold prices after a drop in more than two weeks, jewellers in Bangladesh have said they may have to raise the price again to match global prices.
Bangladesh Jewellers' Association on Thursday said the decision to hike gold prices by up to Tk 1,225 per bhori, i.e. 11.664 grams, would be effective from Saturday.
On May 31, the jewellers cut gold prices by Tk 1,516 per bhori after several rises and drops in the past one year.
BJS General Secretary Enamul Haque Khan told bdnews24.com the rise followed a global gold price hike.
In terms of taka, the prices of gold rose by Tk 3,000 per bhori in the past 10 days, according to Khan.
The prices in the local market will be raised by Tk 1,225 per bhori within a week again if the global prices remain unchanged or go up, Khan said.
“It’s not possible to sell gold at loss,” he added.
The price of silver has also been raised to Tk 1,167 per bhori by Tk 58.