Gold price soars before Poila Baisakh: Rs 1 lakh mark breached in Bangladesh

Bad news again before Poila Baisakh. Gold becomes even more expensive. The price of pure gold increased by almost Rs 400. Gold price crossed Rs 1 lakh in Bangladesh. 

Bad news before Poila Baisakh

Bad news again before Poila Baisakh. Gold becomes even more expensive. The price of pure gold increased by almost Rs 400.

Prices are constantly increasing

Gold prices have been rising rapidly for the past few months. Experts predict that gold prices will not be controlled unless the trade war ends.

Gold price on Saturday

On Saturday, the price of 10 grams of 24-carat retail pure gold in Kolkata increased by Rs 400 to Rs 94,,550.

Base price

The price including GST is Rs 97,386.5. The price of jewelry gold has reached Rs 89,850. Including tax, it is Rs 92,545.5. A record was created in both cases.

Reason for price increase

Financial uncertainty has been created due to the trade war. And for that reason, many people think that gold is the best place to invest. That is why the price of gold is rising.

There is a chance of price reduction

According to an industrialist associated with the gold industry, 30% of the retail diamond and gold jewelry that America imports comes from China. Only 3% comes from India. As America has greatly increased the duty on Chinese goods, the price of Chinese jewelry will also increase. Supply will decrease. And if India has a trade agreement with America, there will be an opportunity to fill that gap.

Decreasing buyers

According to a gold trader, the number of buyers is decreasing rapidly due to the increase in gold prices. The number of sellers of old gold is increasing more than the number of buyers. Many people are making gold jewelry by selling or exchanging old gold.

Gold price in neighboring Bangladesh

Gold prices are also rising in neighboring Bangladesh. This time the price of gold in Bangladesh touched one lakh.

Gold price

Rs 4,187 per bhari. As a result, the price of one bhari of 22-carat gold will now be Rs 1,06,3214 in the Bangladesh market. This is the highest price of gold in the country's market so far.

Trade war

According to gold traders, the price of gold will not decrease until the trade war ends. The price will increase gradually.