The Bangladesh Jewellers Association (Bajus) has increased the gold price again, this time by Tk5972 per bhori, effective from tomorrow (Wednesday).
As a result, the price of 22 carat gold will be Tk1,74,948 per bhori (11.664 grams). The association enjoys an effective monopoly over the supply of gold in the market. It is also able to increase the price arbitrarily as the government monitoring of the market is absent.
People alleged that they are confused with the frequency of the increases' they think it is too much. They plan to buy gold for festivals and weddings.
Although Bajus does not formally import gold, it raises gold price claiming increase gold rate in the global market.
In the course of two days, Bajus increased gold price by Tk8282 per bhori. The association increased gold by Tk2310 per bhori on Tuesday again it increased by Tk5972 per bhori on Tuesday, which effective from Wednesday.
This marks the 29th adjustment of gold prices in the country this year, with prices increasing 21 times and decreasing only 8 times. In 2024, gold prices were adjusted a total of 62 times, with 35 increases and 27 decreases.
According to the new rates, the price of gold per bhori in the Bangladesh market will be:
· 22 Carat: Tk1,74,948 per bhori
· 21 Carat: Tk 1,67,005 per bhori
· 18 Carat: Tk 1,43,104 per bhori
Traditional Method: Tk 1,18,459 per bhori