United News of Bangladesh

Gold prices have reached a historic peak in Bangladesh, with the Bangladesh Jewellers Association (Bajus) raising the price of 22-carat gold by Tk 1,994 per bhori. The new price now stands at Tk 149,812 per bhori, marking the highest cost ever recorded in the country’s history. The new rates will come into effect on Tuesday (Feb 11), according to a press release issued on Monday. This price adjustment applies to 22-carat gold, which now costs Tk 149,812 per bhori (11.664 grams). Gold prices hit record high in Bangladesh Besides, 21-carat gold is priced at Tk 143,001, while 18-carat gold will cost Tk 122,577. The traditional gold variety has seen its price set at Tk 100,916 per bhori. Bajus has also said that the final retail price of gold must include a mandatory 5% VAT, as imposed by the government, as well as a 6% minimum labour charge set by the association. 2 air passengers held with huge gold at Sylhet airport However, the total labour charge may vary depending on the design and quality of the jewellery. This marks the third price hike in just the first ten days of February, following a previous increase on February 1 and 5.

Gold prices have reached a historic peak in Bangladesh, with the Bangladesh Jewellers Association (Bajus) raising the price of 22-carat gold by Tk 2,928 per bhori. The new price now stands at Tk 147,818 per bhori, marking the highest cost ever recorded in the country’s history. The price hike, effective from Thursday (February 6), follows an increase in the price of refined gold in the local market on Wednesday. This price adjustment applies to 22-carat gold, which now costs Tk 147,818 per bhori (11.664 grams). Besides, 21-carat gold is priced at Tk 141,099 per bhori, while 18-carat gold costs Tk 120,944 per bhori. Could gold prices in Bangladesh reach Tk 2 lakh per bhori? The traditional gold variety has seen its price set at Tk 99,529 per bhori. Bajus has also stated that the final retail price of gold must include a mandatory 5% VAT, as imposed by the government, as well as a 6% minimum labour charge set by the association. However, the total labour charge may vary depending on the design and quality of the jewellery. This marks the second price hike in February, following a previous increase on February 1, when 22-carat gold was raised by Tk 2,099 per bhori, reaching Tk 144,890. The soaring gold prices reflect global market trends, with local prices adjusting in response to international gold rates and currency fluctuations.

The Bangladesh Jewelers Association (BAJUS) has increased the price of gold in the local market, with the price of 22-carat gold rising by Tk 1,155 per bhori to Tk 1,39,443. The new rates will come into effect on Thursday (January 16), according to a press release issued on Wednesday.  At the revised rates, 22-carat gold will cost Tk 1,39,443 per bhori (11.664 grams), while the price of 21-carat gold has been set at Tk 1,33,098 per bhori, 18-carat gold at Tk 1,14,086 per bhori and traditional gold at Tk 93,674 per bhori.  This adjustment follows a price reduction implemented on December 30 last year when BAJUS decreased the price of 22-carat gold by Tk 1,050 per bhori to Tk 1,38,288. Bangladesh's gold market sees volatility with prices changing 62 times BAJUS attributed the latest price hike to an increase in the price of pure gold in the local market. The association also noted that the government-imposed 5% VAT and a minimum wage set by BAJUS at 6% will be added to the selling price. However, the wage may vary based on the design and quality of the jewelry.  The price of pure gold has increased in the local market. As a result, the new price of gold has been determined considering the overall situation, it added.

Bangladesh Jewelers Association (BAJUS) on Saturday (September 30, 2023) announced it was reducing the price of gold again after an interval of just two days from the last price change. Earlier, Bajus had last set gold prices on September 27, which was effective from last Thursday. The new rate will be effective from tomorrow (Sunday, October 1). The price of good quality 22-carat gold has been reduced by Tk 1,750 to Tk98,211 per bhori (11.664 grams). Until Saturday 22 carat gold was Tk99960 per bhori. Read more: Gold price marks an all-time high to Tk 1,01,244 per bhori MA Hannan Azad, chairman of the Bajus Price Determination and Price Monitoring Standing Committee said this by a notification on Saturday (September 30). According to the notification, the price of acidic gold has decreased in the local market. Considering the overall situation, Bajus has fixed the new price of gold. The price of 21-carat solid gold is Tk93779 per bhori, 18-carat is Tk80365 per bhori and traditional gold price is Tk 66951. Read more: Gold Buyer's Guide: Know the types, colors, karats of the precious metal As of today, the price of 21-carat solid gold is Tk95412 per bhori, 18-carat gold is Tk81765 and traditional gold is sold at Tk68118. The price of gold has increased but the price of silver has been kept unchanged. According to the category, currently, a bhori of 22-carat silver price is Tk1715, 21-carat price is Tk1633, 18-carat price is Tk1400, and traditional method silver price is Tk1050. Read more: Gold vs Diamond: Which Should You Choose for Investment?

Bangladesh Jewllers’ Association (Bajus), an organization of jewllers, has increased gold price by Tk 1,750 per bhori with effect from Wednesday. Bajus Standing Committee on Pricing and Price Monitoring came up with the announcement at a meeting saying that the prices of gold are climbing in the international market. Also read: Gold prices go up by Tk1867 per bhori The price of 22-carat gold per bhori will increase from 76,515 to Tk78,265, said Bajus.   According to Bajus, 21-carat gold will be sold at Tk74,682 per bhori and 18-carat gold at Tk 64,013 per bhori. The price of traditional gold has  been increased by Tk 1, 166 to Tk 53, 362. Read 1 held with 124 gold bars worth Tk 10 cr in Jashore

Gold has a special place in people's lives not only as an ornamental commodity, but also as a valuable resource and store of value. It’s worth therefore extends from the individual to the state level. No matter how expensive the paper currency is, its foundation of trust is shaky. People prefer buying gold regarding it as a valuable asset for the future. Investing in gold is reliable. So everyone wants to save it as an asset. In countries of the region, including Bangladesh, gold has become an 'essential' commodity at the time of marriage. Also read: Is Gold a Good Investment in 2022? Of course, the rich are forced to go to the gold shops to protect their social status. But year after year the rise in gold prices has reduced the number of buyers going to the store. Middle-class and low-income families are under great pressure to maintain social norms. The quantity of a bhori (11.66 gram) of 22 carat gold that could be bought for Tk150 in 1971, now costs more than Tk73,000. A first-class government official can no longer afford to buy even half a bhori of gold with a full month's salary.