Gold prices in the domestic market have reached a new all-time high following a fresh hike announced by the Bangladesh Jewellers Association (Bajus).
According to the new rates, the price of 22-carat gold has risen to Tk269,788 per bhori, the highest in the country’s history.
The decision was taken at a meeting of the Bajus Standing Committee on Pricing and Price Monitoring on Wednesday morning. The revised prices came into effect nationwide from 10:15am the same day.
Bajus said the increase was made in consideration of rising prices of pure gold in the international market.
Under the new price structure, 21-carat gold is now priced at Tk259,815 per bhori, 18-carat gold at Tk220,741 per bhori, and traditional gold at Tk181,725 per bhori.
Silver prices have also reached record levels. Bajus fixed the price of 22-carat silver at Tk7,756 per bhori, while 21-carat silver will sell at Tk7,406 and 18-carat silver at Tk6,356 per bhori. Traditional silver has been priced at Tk5,143 per bhori.
The notification also said the government will collect 5% VAT on the sale of gold and silver, which must be deposited into the state treasury.
Market impact
Jewellers say the continued rise in gold prices is affecting buyer sentiment, particularly during the wedding season and other social occasions, with many customers postponing purchases.
Economists attribute the surge to record international gold prices, global economic uncertainty and pressure on the taka against the US dollar, all of which are contributing to higher domestic prices.
Market stakeholders are now closely watching how far prices may climb in the coming days.
