The Bangladesh Jewellers Association (Bajus) has raised gold prices in the domestic market, just a day after reducing them.
The price of 22-carat gold has been increased by Tk3,661 per bhori, with the new price set at Tk235,541 per bhori. The revised rates came into effect at 10am Saturday.
The new prices were set at a meeting of the Bajus Standing Committee on Pricing and Price Monitoring after reviewing the rising price of pure gold, locally known as tejabi gold.
Gold prices by quality
The price of 22-carat hallmarked gold has been set at Tk235,541 per bhori, while 21-carat gold will cost Tk224,990, 18-carat gold Tk192,782 and traditional-method gold Tk156,406 per bhori.
Compared with Friday’s rates, the price of 22-carat gold has increased by Tk3,661 per bhori, 21-carat by Tk3,549, 18-carat by Tk2,659 and traditional-method gold by Tk1,100.
A bhori is equivalent to 11.664 grams.
Gold prices change twice in three days
Bajus reduced gold prices on Friday, setting the price of 22-carat gold at Tk231,880 per bhori. The latest increase therefore came just one day after that reduction.
Before Friday’s adjustment, Bajus last changed gold prices on September 9, when 22-carat gold was priced at Tk234,038 per bhori. This means gold prices have been adjusted twice within three days.
Bajus said the latest prices were determined after considering the overall market situation and the rise in the price of pure gold.
Silver prices also revised
Bajus also fixed new prices for silver. The price per gram has been set at Tk430 for 22-carat silver, Tk410 for 21-carat, Tk350 for 18-carat and Tk265 for traditional-method silver.
Making charges and old jewellery exchange
Bajus said making charges will be applied according to the design of the jewellery. However, as VAT is already included in the selling price of gold and silver jewellery, it cannot be collected separately from customers.
For exchanges of old jewellery, 12% will be deducted, excluding making charges and the cost of stones. For purchases of old jewellery, 18% will be deducted.
There is no provision for a separate VAT deduction in cases of jewellery exchange or purchase.
The Bajus-fixed prices will remain effective at jewellery shops across the country until further notice.