Bangladesh gold market breaks record as prices hit Tk 2.57 lakh per bhori

Gold ornaments

Dhaka, Jan 25 - Gold prices in Bangladesh have surged once again, with the Bangladesh Jewellers Association (BAJUS) setting a new all-time high for the precious metal.

According to a notification issued on Sunday night, BAJUS increased the price of 22-carat gold by Tk 1,574 per bhori, fixing it at Tk 257,191 — the highest ever in the country’s history.

The new rates will come into effect from Monday.

BAJUS said the decision was taken following a rise in the price of pure gold (tejabi gold) in the local market, considering the overall market situation.

Under the revised prices, 21-carat gold will be sold at Tk 245,527 per bhori, 18-carat gold at Tk 210,419 per bhori, while gold under the traditional method will cost Tk 172,919 per bhori.

In addition to the selling price, buyers will have to pay a mandatory 5 percent VAT set by the government and a minimum 6 percent making charge fixed by BAJUS. However, the making charge may vary depending on the design and quality of jewellery.

BAJUS last adjusted gold prices on January 23, when the price of 22-carat gold was raised by Tk 6,299 to Tk 255,617 per bhori.

With the latest revision, gold prices have been adjusted 13 times in the current month alone — increased on 10 occasions and reduced three times.

Alongside gold, silver prices have also been increased. BAJUS raised the price of 22-carat silver by Tk 350 per bhori, fixing it at Tk 7,232, marking the highest silver price in the country’s history.

According to the new rates, 21-carat silver will cost Tk 6,940 per bhori, 18-carat silver Tk 5,949 per bhori, and silver under the traditional method Tk 4,432 per bhori.

So far this year, silver prices have been adjusted eight times, with increases on six occasions and decreases twice. - UNB