Gold price in Bangladesh jumps to record Tk2,69,788 per bhori

Gold prices in Bangladesh surged to an all-time high today (28 January), with the Bangladesh Jewellers Association (Bajus) raising the price by Tk7,348 per bhori, citing an increase in the local market price of pure gold.

According to a Bajus notification issued this morning, the price of 22-carat gold has been fixed at Tk2,69,788 per bhori (11.664 grams), the highest ever in the country's history. 

The new rate came into effect immediately.

Bajus said the latest adjustment was made after reviewing the overall market situation, particularly the rise in the price of tejabi gold (pure gold) in the local market.

Under the revised rates, the price of 21-carat gold has been set at Tk2,57,483 per bhori, 18-carat gold at Tk2,20,741 per bhori and traditional method gold at Tk1,81,725 per bhori.

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

Bajus last revised gold prices on 26 January, when it increased the price by Tk5,249 per bhori, setting the price of 22-carat gold at Tk2,62,440, the previous record high.

With the latest revision, gold prices have been adjusted 15 times so far this year, including 12 increases and three reductions.

Meanwhile, gold prices continue to soar in the global market. Spot gold prices have crossed $5,200 per ounce, marking a series of new records.

According to spot market reports, gold prices have risen by around 20% in the first month of the year alone, driven mainly by a weakening US dollar, as investors increasingly turn to gold as a safe-haven asset amid global uncertainties.