After several rounds of price cuts, the Bangladesh Jewellers Association (Bajus) has raised gold prices again in the domestic market.
The price of 22-carat gold has been increased by Tk4,474 per bhori to Tk236,354, according to a Bajus announcement on Thursday.
The new price came into effect at 10am on Thursday.
Bajus said the new rates were set considering the overall market situation following an increase in the prices of acid gold and silver.
The decision was taken at a meeting of Bajus’s Standing Committee on Pricing and Price Monitoring on Thursday morning.
According to the new rates, 22-carat hallmarked gold costs Tk20,350 per gram, including VAT. The price of 21-carat gold has been set at Tk19,435 per gram, 18-carat gold at Tk16,685 per gram and traditional gold at Tk13,630 per gram.
Silver prices also rise
Bajus has also increased the price of silver.
Under the new rates, 22-carat silver costs Tk440 per gram, 21-carat silver Tk425, 18-carat silver Tk365 and traditional silver Tk275 per gram.
Earlier, Bajus reduced the price of gold on Wednesday, September 2. The price of 22-carat gold was cut by Tk4,374 per bhori to Tk2,31,880.
Before that, Bajus reduced the price of 22-carat gold by Tk4,374 on August 31 and by Tk7,115 on August 29.
The latest increase comes just a day after the most recent price cut.
Bajus said labour charges would apply depending on the design of the jewellery. However, as VAT is already included in the selling price, jewellers cannot charge customers VAT separately.
For the exchange or purchase of gold and silver jewellery, Bajus’s existing rules will remain in effect, excluding applicable VAT, labour charges and stone prices.
The new rates will remain in effect at jewellery shops across the country until further notice.