The Bangladesh Jewellers Association (Bajus) has raised gold prices in the domestic market, with the price of 22-carat hallmarked gold increasing by Tk190 per gram.
Under the new rates, 22-carat hallmarked gold is priced at Tk19,785 per gram, up from Tk19,595 on Tuesday.
Bajus said the new rates were set after considering the overall market situation, particularly the rise in the price of pure gold (tejabi gold).
The new prices came into effect at 10am on Wednesday and will remain in effect at jewellery shops across the country until further notice.
The decision was taken at a meeting of the Bajus Standing Committee on Pricing and Price Monitoring at 9am on September 30.
Current gold prices
Under the new rates, 21-carat gold is priced at Tk18,895 per gram, while 18-carat gold is priced at Tk16,225 per gram. Gold made using the traditional method is priced at Tk13,255 per gram.
The price of one bhori (11.664 grams) of 22-carat gold now stands at approximately Tk230,781. Making charges will be added separately, depending on the design of the jewellery.
The price of 22-carat gold was Tk19,595 per gram on September 29, meaning the price per bhori has increased by approximately Tk2,214.
Bajus had reduced gold prices several times before the latest increase. On September 28, 22-carat gold was priced at Tk19,785 per gram, while the price stood at Tk19,970 per gram on September 26.
Silver prices also rise
Bajus has also increased silver prices.
The price of 22-carat silver has been set at Tk370 per gram, while 21-carat silver is priced at Tk355, 18-carat silver at Tk305 and traditional-method silver at Tk230 per gram.
The price of 22-carat silver was Tk355 per gram on September 29, representing an increase of Tk15 per gram.
VAT cannot be charged separately
According to a Bajus notification, VAT is included in the fixed selling price and cannot be collected separately from customers.
Making charges, however, will apply separately depending on the design of the jewellery.
For the exchange of old gold jewellery, a 12% deduction applies, excluding making charges and stone costs. An 18% deduction applies when purchasing old gold jewellery.
Bajus said VAT cannot be deducted separately in cases of exchange or purchase.
The fixed prices will remain effective at jewellery shops across the country until further notice.