The New Nation - Internet Edition

Staff Reporter

The Bangladesh Jewellery Association (BJA) has increased the price of gold products in local market by Tk 828 per tola yesterday.

The decision was taken after an ad hoc meeting, called to evaluate present market price, comparing present international gold market, said Dilder Ahmed Saleem, Secretary General of BJA to The New Nation.

We decided to increase the price under the pressure of global markets rising. The modified price is applicable from January 8, 2007, he said. Continuing the record making growth, gold trading in the US gold market yesterday reached at US$872.19 per ounce. It was US$86 per ounce increase within four trading sessions. "Price likely to go further up," predicted gold experts from the usagold.com.

According to BJA General Secretary, Tk74 will be added with present 22 carats gold category. Its new price is Tk2,060 per-gm as decided.

Besides, in the 21 carats gold category, Tk101 per-gm has been added, raising the price at Tk 1,970 per-gm.

Tk65 per-gm is added with 18 carats gold category and its new trading rate is Tk 1,755 per-gm.

However, price of Sanatan (Old) gold category will remail unchanged, at Tk 1558 per-gm, informed Ahmed Saleem.

We usually wait for a week after any significant price alteration takes place in international gold market before changing existing gold market price. But the price at this time rising very first, which made us call the emergency meeting, he added.

"As market is still vulnerable, we would call another meeting in few days to further evaluate local gold market price," he further added. He however has forecast more increase in coming days.