Gold prices reach record high ahead of Eid

The price of gold in Bangladesh has once again surged to a record high, just two days after the last adjustment.

The price of 22-carat gold has increased by Tk1,470 per bhori, reaching Tk154,945, marking the highest rate in the country's history.

The Bangladesh Jewellers Association (Bajus) announced the price hike in a notice on Tuesday evening, stating that the new rates will take effect from Wednesday in the local market.

Bajus explained that the decision to raise prices was due to an increase in the price of raw gold in the local market.

Considering the overall situation, the association has set new rates accordingly.

Under the revised pricing, the cost of gold per bhori has been set as follows:22-carat: Tk154,945; 21-carat: Tk147,900; 18-carat: Tk126,776; traditional method: Tk104,498.

Bajus also specified that a 5% government-mandated VAT, along with a minimum making charge of 6% as set by the association, must be added to the selling price. But, the making charges may vary depending on the jewellery's design and quality.

The last adjustment in gold prices took place on 16 March, when Bajus increased the price of 22-carat gold by Tk2,613 per bhori, setting it at Tk153,475.

So far this year, gold prices in Bangladesh have been adjusted 15 times, with prices increasing eleven times and decreasing only four times.