The Bangladesh Jewellers Association (Bajus) has raised gold prices in the domestic market, just two days after announcing a reduction, citing an increase in the price of pure gold in the local market.
The new rates came into effect at 10am on Monday. Under the revised prices, 22-carat hallmarked gold costs Tk18,935 per gram, or Tk220,786 per bhori (11.664 grams), including VAT.
The decision was taken at a meeting of the Bajus Standing Committee on Pricing and Price Monitoring on Monday morning, chaired by its chairman, Dr Dewan Aminul Islam Shahin.
According to the new price list, 21-carat gold costs Tk18,085 per gram, or Tk210,871 per bhori. The price of 18-carat gold has been set at Tk15,535 per gram, or Tk181,128 per bhori.
Gold made using traditional methods now costs Tk12,690 per gram, or Tk147,932 per bhori.
On Saturday, Bajus reduced the price of 22-carat gold by Tk5,481 per bhori, bringing it to Tk217,592, including VAT. The revised rate also took effect at 10am that day.
With Monday’s increase, the price of 22-carat gold has risen by Tk3,194 per bhori from the previous rate.
Silver prices
Bajus has also announced new prices for silver ornaments. The price of 22-carat silver has been set at Tk300 per gram, including VAT. The rates for 21-carat and 18-carat silver are Tk290 and Tk250 per gram, respectively, while silver made using traditional methods costs Tk190 per gram.
Making charges and deductions
Bajus said making charges would depend on the design and craftsmanship of the jewellery. As VAT is included in the fixed retail prices, it cannot be charged separately.
For exchanges of old gold jewellery, 12% of the value must be deducted, excluding making charges and the cost of stones. For the purchase of old jewellery, the deduction will be 18%. VAT cannot be deducted separately in either transaction.
The revised prices will remain in effect at jewellery shops across the country until further notice.