Own Correspondent, Dhaka
Bangladesh Jewelers Association (BAJUS) adjusted the price of gold five times in a span of seven days in the country’s market. Due to frequent price changes, dilemmas have arisen between buyers and sellers. Everyone’s question is who drives the price.
On Wednesday (April 24), Bajus has reduced the price of 22 carat gold by 2 thousand 100 rupees to 1 lakh 14 thousand 190 rupees. Which has been effective from 4:50 PM today.
According to Bajus data, the price of gold was adjusted 12 times in the first four months of this year. Where the price is increased 7 times, and reduced 5 times. In April, the price has been adjusted 7 times. And in the last 7 days there has been adjustment 5 times.
And the traders said that they also have to face the irony of this sudden change in the price of gold. Suranjan, a gold trader in Tantibazar of the capital, said that this sudden change in the price of gold is often discussed with the buyers. Because they have been seeing one price, but come to the market and see another price.
However, Bajus says that the price of gold fluctuates hour by hour in the global market, so the price is adjusted in less than 24 hours or 2-1 days in the country’s market.
There is volatility in the price of gold in the world market. The price is fluctuating hour by hour. For this reason, adjustments are being made in less than 24 hours or 2-1 days.
When asked about the current situation in the gold market in the global market, he said that if the ongoing unrest in the Middle East continues and the Federal Reserve Bank lowers the interest rate, the price of oil and gas will continue to rise along with gold. Then there will be a need for price adjustments in the country’s market as well.
Expressing the fear of gold smuggling, Mahfuz Kabir also said that if the prices are not adjusted, the cheap gold can be smuggled to neighboring countries where gold prices are high.
On Wednesday (April 24), Bajus has reduced the price of 22 carat gold by 2 thousand 100 rupees to 1 lakh 14 thousand 190 rupees.
