Gold prices in Bangladesh have recorded a sharp increase with the rate of high-quality 22-carat gold rising by Tk9,856 per bhori to reach an all-time high of Tk232,930.
The Bangladesh Jewellers Association (BAJUS) announced the new rates, which took effect at 10:00 am on Thursday. According to a statement from the BAJUS Standing Committee on Pricing and Price Monitoring, the prices were adjusted in line with local market dynamics.
Under the new price structure 21-carat gold has increased by Tk9,448 to retail at Tk222,491 per bhori. The price of 18-carat gold has gone up by Tk8,106, now costing Tk191,056 per bhori. For gold refined through traditional methods the price rose by Tk6,590 to stand at Tk156,064 per bhori. All rates are inclusive of value-added tax (VAT).
This latest adjustment comes less than a week after the association raised the rate of 22-carat gold by Tk2,216 per bhori on 31 July.
In addition to gold, BAJUS has adjusted silver prices upward. The price of 22-carat and 21-carat silver increased by Tk292, bringing their rates to Tk4,899 and Tk4,666 per bhori, respectively. The rate for 18-carat silver is now Tk4,024 per bhori after a Tk233 hike, while traditional-method silver rose by Tk175 to stand at Tk3,033 per bhori.
The significant hike is expected to impact the domestic jewelry sector and consumer purchasing power ahead of the upcoming wedding season.
