Gold prices hit record high in Bangladesh

Gold prices in Bangladesh climbed to an all-time high on Sunday (21 December), with the price of 22-carat gold rising to Tk218,117 per bhori following a fresh hike announced by the Bangladesh Jewellers Association (Bajus).

Bajus raised the price of 22-carat gold by Tk1,050 per bhori, setting the new rate at Tk218,117, which will come into effect from Monday morning (22 December).

This marks the highest gold price ever recorded in the country.

According to Bajus, the latest adjustment was made considering the overall market situation, particularly the rise in the price of tejabi (pure) gold in the local market.

Under the revised rates, the price of 21-carat gold has been fixed at Tk208,202 per bhori, 18-carat gold at Tk178,459 per bhori, while traditional method gold has been priced at Tk148,599 per bhori.

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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, the association said.

Bajus last adjusted gold prices on December 15, when it raised the price of 22-carat gold by Tk1,470 per bhori to Tk217,067.

So far this year, gold prices in the local market have been adjusted 87 times – raised on 60 occasions and reduced 27 times.