Gold price in Bangladesh rises Tk16,330 per bhori in a day

Gold prices in Bangladesh soared again today (3 February), climbing a total of Tk16,330 per bhori through two separate hikes announced by the Bangladesh Jewellers Association (Bajus), pushing the price back above Tk260,000 per bhori.

In a morning notification, Bajus said it had raised the price of 22-carat hallmarked gold by Tk5,424 per bhori. Later in the afternoon, the jewellers' body announced another hike of Tk10,906 per bhori, taking the total increase for the day to Tk16,330.

Following the two revisions, the price of 22-carat gold has been set at Tk262,090 per bhori, effective immediately.

Bajus said the latest price adjustment was made considering the overall market situation after an increase in the price of tejabi gold (pure gold) in the local market.

Under the new rates, 21-carat gold will cost Tk250,193 per bhori, 18-carat gold Tk214,443, while gold under the traditional method has been fixed at Tk175,485 per bhori.

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

Just a day earlier, on Monday, Bajus had reduced gold prices twice, bringing the price of 22-carat gold down to Tk245,760 per bhori.

With the latest hike, gold prices have been adjusted 24 times so far this year, raised 16 times and reduced eight times.

Alongside gold, silver prices were also revised. The price of 22-carat silver has been fixed at Tk6,532 per bhori after a reduction of Tk175. The new rates set 21-carat silver at Tk6,240, 18-carat at Tk5,365, and traditional silver at Tk4,024 per bhori.

This marks the 16th adjustment of silver prices this year, with prices increased 10 times and reduced six times.

Meanwhile, in the global market, spot gold prices jumped by more than 6% in a single day, rising over $280 per ounce to trade at around USD 4,900 per ounce.