Dhaka, Oct. 28 -- Gold prices have risen in Bangladesh after four consecutive cuts, with the best-quality 22-carat gold up by Tk 2,216 a Bhori to Tk 223,074.

The earlier cuts had shaved nearly Tk 10,500 off the price.

The Bangladesh Jewellers Association (BAJUS) announced the increase, and the new rate has applied across the country since 10am on Wednesday. Other grades have risen at roughly the same rate.

Dewan Aminul Islam Shaheen, chairman of BAJUS's Standing Committee on Pricing and Price Monitoring, told bdnews24.com the increase followed the price in the global market.

"The local gold market depends entirely on the international market," he said. "When prices rise there, we adjust ours. When they fall, we cut. The international ...