Gold prices have risen again in Bangladesh’s local market, just two days after the previous increase.
The price of 22-carat gold, the highest-quality gold sold in the country’s jewellery market, has increased by Tk470 per gram. Under the new rate, a bhori of 22-carat gold will cost Tk246,112.
The Bangladesh Jewellers Association (Bajus) announced the new prices on Saturday, citing changes in the local market. The revised rates came into effect at 10am the same day.
The new prices were set at a meeting of the Bajus Standing Committee on Pricing and Price Monitoring on Saturday morning. Later, the association issued a notification signed by committee Chairman Dr Dewan Aminul Islam Shaheen.
According to the new rates, 22-carat hallmarked gold is priced at Tk21,100 per gram, or Tk246,112 per bhori, including VAT.
The price of 21-carat gold has been set at Tk20,150 per gram, or Tk235,375 per bhori.
Meanwhile, 18-carat gold is priced at Tk17,305 per gram, while traditional gold is priced at Tk14,130 per gram.
Silver prices also rise
Bajus has also raised the prices of silver.
Under the new rates, 22-carat hallmarked silver is priced at Tk470 per gram, while 21-carat silver is Tk450, 18-carat silver Tk385 and traditional silver Tk290 per gram.
The latest increase comes just two days after Bajus raised gold prices on Thursday.
At the time, the association increased the price of 22-carat gold by Tk3,849 to Tk240,628 per bhori.
With the latest increase, the price of 22-carat gold has risen by a total of Tk5,484 per bhori in just two days.
Bajus said making charges will vary depending on the design and workmanship of the jewellery.
As VAT is already included in the fixed selling price, jewellers cannot charge buyers additional VAT separately.
The association also said its existing rules regarding the exchange and purchase of gold and silver jewellery, excluding fixed VAT, making charges and stone prices, will remain in effect.
The new rates will remain effective at all jewellery shops across the country until further notice.