Gold prices in Bangladesh have climbed for the eighth consecutive time, with the price of 22-carat gold reaching a new all-time high of Tk 229,431 per bhori (11.664 grams) on Sunday.
Bangladesh Jewellers Association (BAJUS) announced at night that it has increased the price of gold by Tk 1,575 per bhori, a decision that will take effect from Monday morning.
BAJUS said the latest adjustment was made considering the overall market situation, particularly the rise in the price of pure gold (tejabi gold) in the local market.
Under the new rates, the price of 21-carat gold has been set at Tk 218,992 per bhori, 18-carat gold at Tk 187,732 per bhori, and traditional-method gold at Tk 156,531 per bhori.
In addition to the selling price, buyers will have to pay a government-mandated 5 percent VAT and a minimum 6 percent making charge fixed by BAJUS. However, making charges may vary depending on the design and quality of jewellery.
BAJUS last revised gold prices on December 27, when it raised the price of 22-carat gold by Tk 1,574 per bhori to Tk 227,856.
With the latest hike, BAJUS has increased gold prices eight times in a row. So far this year, gold prices have been adjusted 91 times in the domestic market — raised on 64 occasions and reduced only 27 times.
Meanwhile, silver prices have remained unchanged in the local market. The price of 22-carat silver stands at Tk 6,065 per bhori, while 21-carat silver is selling at Tk 5,774 per bhori, 18-carat silver at Tk 4,957 per bhori, and traditional-method silver at Tk 3,732 per bhori.