Dhaka, Jan. 10 -- Gold prices surged sharply in Bangladesh as jewellers announced a fresh hike, pushing the cost of the precious metal to a new high amid continued volatility in the local market.

In a statement issued on Saturday night, Bangladesh Jewellers Association (BAJUS) said the price of 22-carat gold has been increased to Tk227,856 per bhori (11.664 grams), up from the previous rate.

The association cited a rise in the price of tejabi (pure) gold in the local market as the reason behind the latest adjustment, saying the new rates were fixed after reviewing the overall market situation.

According to the revised price list, 21-carat gold will be sold at Tk217,534 per bhori, while the price of 18-carat gold has been set at Tk186,4...