Bangladesh's gold market sees volatility with prices changing 62 times
Bangladesh's gold market has witnessed serious volatility in 2024, with gold prices fluctuating 62 times throughout the year.
Of these fluctuations, the price has increased 35 times and decreased 27 times.
The first price of gold this year was fixed on 18 January, with the price of a bhori of 22-carat gold set at Tk1,12,441.
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As of 30 December, the price of a bhori of 22-carat gold was fixed at Tk1,38,288. This marks an increase of Tk25,847 from the price at the start of the year.
The Bangladesh Jewelers' Association (Bajus) is responsible for determining the gold prices in the country.
According to the decision made in a meeting of the Bajus Standing Committee on Pricing and Price Monitoring, the price of the highest quality gold – 22-carat gold – was reduced by Tk1,050 to Tk1,38,288 on 30 December.
Besides, the price of 21-carat gold was reduced by Tk1,004, bringing the price per bhori to Tk1,32,014.
The price of 18-carat gold was lowered by Tk863, now priced at Tk1,13,141 per bhori.
Traditional gold had also seen a reduction of Tk735, with a new price of Tk92,869 per bhori. These are the current prices at which gold is being sold in the country's market.
According to Bajus, the highest price for a 22-carat gold bhori this year was Tk1,43,526.
Gold was sold at this price from 31 October to 3 November. On the other hand, the lowest price for a 22-carat gold bhori in 2024 was Tk1,10,691, which was the price from 19 January to 6 March.
