United News of Bangladesh

After two consecutive reductions, the price of gold in the domestic market has increased again. The Bangladesh Jewellers Association (BAJUS) on Tuesday announced a hike of Tk 1,890 per bhori (11.664 grams) for 22-carat gold, setting the new price at Tk 172,126. In a statement issued on Tuesday night, BAJUS said the revised rates would come into effect from Wednesday (July 2). The association attributed the price adjustment to a rise in the cost of refined (pure) gold in the local market. Considering the overall market situation, BAJUS decided to revise the rates accordingly. As per the new rates, the price of 21-carat gold has been fixed at Tk 164,299 per bhori, while 18-carat gold will now cost Tk 140,831 per bhori. Gold made following the traditional method (Sanatani) will be sold at Tk 116,488 per bhori. Gold prices drop by Tk 4,292 within a week The sale price of gold must include a government-fixed 5 percent VAT and a minimum 6 percent making charge as determined by BAJUS. But, making charges may vary depending on the design and quality of the jewellery. Earlier, on June 28, BAJUS last adjusted gold prices, lowering them by Tk 2,624 per bhori. At that time, the price of 22-carat gold was set at Tk 170,236 per bhori.