Gold prices in Bangladesh surged to an all-time high on Wednesday, with the Bangladesh Jewellers Association (BAJUS) raising the price by Tk 7,348 per bhori, citing an increase in the local market price of pure gold.

According to a BAJUS notification issued in the morning, the price of 22-carat gold has been fixed at Tk 269,788 per bhori (11.664 grams), the highest ever in the country’s history. 

The new rate came into effect immediately.

BAJUS said the latest adjustment was made after reviewing the overall market situation, particularly the rise in the price of tejabi gold (pure gold) in the local market.

Under the revised rates, the price of 21-carat gold has been set at Tk 257,483 per bhori, 18-carat gold at Tk 220,741 per bhori, and traditional method gold at Tk 181,725 per bhori.

Gold price skyrockets to Tk262,440 per bhori overnight in Bangladesh 

In addition to the selling price, buyers will have to pay a mandatory 5 percent government VAT and a minimum 6 percent making charge set by BAJUS. However, the making charge may vary depending on the design and quality of the jewellery.

BAJUS last revised gold prices on January 26, when it increased the price by Tk 5,249 per bhori, setting the price of 22-carat gold at Tk 262,440 — which had remained the previous record high.

With the latest revision, gold prices have been adjusted 15 times so far this year, including 12 increases and three reductions.

Meanwhile, gold prices continue to soar in the global market. Spot gold prices have crossed $5,200 per ounce, marking a series of new records.

Gold price jumps Tk 6,299 per bhori in Bangladesh after brief cut

According to spot market reports, gold prices have risen by around 20 percent in the first month of the year alone, driven mainly by a weakening US dollar, as investors increasingly turn to gold as a safe-haven asset amid global uncertainties.