Gold is being sold at the highest price in the country's history. According to the new price announcement of the Bangladesh Jewelers Association (Bajus) on Tuesday (October 7), 22-carat gold was sold for Tk200,726 per bhori (11.664 grams).
From Wednesday (October 8), quality gold will be sold for Tk202,195 per bhori—the highest in the history of Bangladesh.
The Bangladesh Jewelers Association has set a new price for 22-carat gold, increasing it by Tk1,369 per bhori in just one day. Earlier, on October 5, the price of 22-carat gold was Tk197,576.
Bajus said that the price adjustment in the retail market was due to two reasons: the increase in the price of acid gold (pure gold) in the local market and the increase in the price in the international market.
Jewelry traders say that the price of gold has crossed Tk2 lakh per bhori. However, with the addition of 5% VAT and 6% wages to this price, it costs buyers about Tk2.15 lakh to buy a single piece of jewelry. The price is the highest in the country's history. Buyers are losing interest, and jewelry traders are facing difficulties.
Analyzing the price data published by Bajus for the last three years, it can be seen that the price of gold has been increasing gradually since mid-2022. On August 22, 2022, the price of 22-carat gold per piece was Tk83,280, which was the highest in the country's history until that time.
The day before that, on August 21, the price was Tk82,056. Then, on November 18 of that year, Bajus issued a new price list—there, the price of a quality 22-carat gold piece was fixed at Tk84,214.
In 2000, the price of a single piece of 22-carat gold in Bangladesh was only Tk6,900.
In 2010, it stood at Tk42,165; in 2020, it was around Tk70,000, and in 2023, it crossed Tk1 lakh for the first time.
Meteoric rise
Analysts say that investors are leaning more towards gold due to geopolitical instability, global economic recession, an increase in import duties, and international uncertainty.
This is also affecting the domestic market by increasing demand in the global market as a safe investment medium.
Masudur Rahman, chairman of the standing committee of Bajus, told Bangla Tribune: “The price of gold may increase further, since the future of the price depends on the global market. Considering the trend of international demand and gold reserves of central banks, such an increase is not unusual.”
He further said that the price of gold has gone beyond the reach of the common man. Due to the decrease in sales, artisans are becoming unemployed.
The situation in the market is now such that it has become practically impossible for the middle and lower middle classes to buy gold.
Gold was once bought for weddings, festivals, or as a means of saving. Now it has become a luxury item.
A jeweler owner in Dhaka's New Market area said: "Earlier, customers used to come to the shop every day to make jewelry. Now, many people come just to look. The number of buyers has decreased, but the price is increasing."
Gobinda Halder has been trading gold in Old Dhaka's Tanti Bazar for almost five decades.
He said: “Before independence, the price of gold was Tk150 per ounce. Even then, people complained that the price was out of reach. Now the situation is even more difficult.”
Sagar Sarkar, in charge of Diamond World’s Gulshan branch, said that usually, a rise in price increases sales, but this time the opposite is happening. Many buyers are no longer able to afford to buy gold.
Meanwhile, according to information published on the websites BullionVault.com and GoldPrice.com on Monday (October 6), an ounce of gold was traded for $3,948 to $3,966 in the international spot market, which is about 1.60% more than the previous day.
This price is about 8.61% more than a month ago.
The price of gold has been continuously increasing in the international market since September 2022.
At that time, the price of gold was $1,651 per ounce.
2023
At the beginning of 2023, the price of gold in Bangladesh reached a new high. On January 8 of that year, Bajus set a new price—Tk90,746 per 22-carat bhori.
In June of the same year, the price increased further to Tk98,444 (22-carat).
Just a month later, in July, the price of gold crossed the Lakh taka-mark for the first time in history.
From July 21, the price of 22-carat bhori was set at Tk100,777.
At that time, the price of 21-carat gold was Tk96,228, 18-carat was Tk82,464, and the traditional method was Tk68,701.
2024
In 2024, the price of gold was adjusted 62 times in the country, out of which the price increased 35 times and decreased 27 times.
At the beginning of the year (January 18), the price of 22-carat gold was set at Tk112,440.
At the same time, the price of 21-carat gold was set at Tk107,308, 18-carat at Tk92,028, and the traditional method at Tk76,632.
However, towards the end of that year (December 12), the price suddenly jumped—22-carat gold was sold for Tk140,271.
The prices were Tk133,903 for 21-carat, Tk114,774 for 18-carat, and Tk94,257 for the traditional method.
2025
On February 11, a 22-carat gold bar was sold for Tk149,812, which was the highest in the country's history at that time. Even then, the market did not stop.
From October 7, a 22-carat gold bar was sold for Tk200,726, 21-carat bar for Tk191,605, an 18-carat for Tk164,229, and Tk136,445 in the traditional method.
Reasons behind the hike
According to market analysts and gold traders, the price of gold has increased to a record amount due to several international and domestic reasons.
The reasons for the increase in the price of gold in the international market include the Russia-Ukraine war, the conflict in the Middle East, global uncertainty, and the fear of a recession in the US economy.
As a result, the price of gold in the international market touched $2,600 per ounce.
Dollar appreciation, Taka depreciation: Due to the dollar crisis and the depreciation of the Taka in Bangladesh, import costs have increased. As a result, the cost of importing gold in the local market has also increased.
Import restrictions and smuggling: Due to complications in legal imports, supply in the market has decreased. Traders said that although demand is high, prices are increasing due to insufficient supply.
Festival and wedding season demand: Every year, the demand for gold increases during the wedding season in the country between October and December. This year, the increase in prices during that season has put additional pressure on the market.
The rise in global gold reserves is also accelerating the rapid increase in prices in the market.
According to the World Gold Council, global government gold reserves currently exceed 36,700 tonnes—about 27% of total foreign reserves.
In 2024, central banks bought 1,180 tonnes of gold in a year, the highest since 1967.
Analysts believe that the debt in the United States has exceeded $37 trillion, interest costs are rising, and the stability of the dollar is in question due to geopolitical tensions.
The World Gold Council’s 2025 report says that since 1971, the price of gold has increased by an average of 8% per year in dollar terms.
Currently, the annual demand for gold in the global market stands at 3,034 tonnes, worth $233 billion. Of this, about 40% is used for investment purposes, 33% for jewelry, 20% in the central bank’s reserves, and 7% in the technology sector.
Masudur Rahman, chairman of the standing committee of Bajus, said: “There is an official account of how many tonnes of gold are in the hands of the common man in India. But there is no state-level information on individual gold reserves in Bangladesh.”
On the other hand, the rising dollar price, the tendency of central banks to buy gold, and Western sanctions on Russia are further increasing prices in the global market.
Bajus believes that US President Donald Trump's tariff policy is also affecting the market in recent times.
Gold is still not very popular among the general public in terms of investment. Many people think that the price is increasing unreasonably. However, according to Bajus officials, lack of financial knowledge is also a big reason.
Masudur Rahman also said: "People are investing in the capital market despite knowing the risks. However, it is rare to find such an example of losing money on a gold investment. If gold is considered as a means of investment beyond decoration, then no matter how much the price increases, the demand will not decrease."
Experts believe taking initiatives to resolve the complexities of VAT tax and encourage the general public to invest in gold will increase interest in it in the domestic market as well.
As a result, demand will remain in the domestic market, and in the global market.
Stability of Silver
While the price of gold is skyrocketing, the silver market is relatively stable.
The price of silver has almost doubled in three years, but it is still within the reach of the common man.
In 2022, the price of 22-carat silver was Tk1,516, which increased to Tk3,628 in 2025.
When the global economy is plunged into uncertainty, the stock market is overvalued, trade wars and new tariffs are increasing, and government debt is creating severe pressure—then gold is once again becoming a safe haven.
As history has shown time and again—the 1930s depression, the Bretton Woods collapse in 1970, or the 2008 global crisis—investors have turned to gold every time.
In the words of experts, “Central banks are no longer buying gold just because of the price, but because alternative assets have become riskier.”
What lies ahead?
If the price of gold in the international market increases further, it will also be reflected in the retail market of Bangladesh.
However, market experts believe that the price may stabilize somewhat if the supply of dollars normalizes and import complications decrease.
Economic analyst Mahbubur Rahman said: “Gold is now not just an ornament; it has also become an investment asset. As uncertainty increases in the market, investors will tend to turn to gold; this is a global trend.”
The impact of the global market, the dollar crisis, local demand, and investment trends all together make gold not just an ornament but a symbol of safe investment and economic security.
