BB sells 25kgs of gold through auction

For the first time in the last 16 years, Bangladesh Bank (BB) today auctioned 25 kilogrammes of gold at nearly Tk 18 crore.

A total of 25.312 kgs of gold of various qualities were sold at Tk17.99 crore, BB Spokesperson and Executive Director Mazbaul Haque said on Wednesday.

After completing all the processes, these gold were handed over to the buyer company Venus Jewelers, he added.

He said the gold was seized by customs intelligence. The money received against the sale has been deposited in the account of Bangladesh Customs, he added.

The central bank had earlier tried to auction the gold in late 2022 but failed to find suitable bidders.

BB last sold 21.822 kgs of gold through auction on July 23, 2008.

Moreover, another 25, 21 and 20 kgs of gold were sold in three phases earlier that year.

However, due to various reasons including not getting the expected bidders, gold auctioning was stopped for a long time.