Gold prices in Bangladesh soared again on Tuesday, climbing a total of Tk16,330 per bhori through two separate hikes announced by the Bangladesh Jewellers Association (BAJUS), pushing the price back above Tk260,000 per bhori.
In a morning notification, BAJUS raised the price of 22-carat hallmarked gold by Tk5,424 per bhori, followed by a further hike of Tk10,906 later in the afternoon, lifting the day’s total increase to Tk16,330.
After the revisions, the price of 22-carat gold was fixed at Tk262,090 per bhori with immediate effect.
BAJUS said the adjustment was made in line with overall market conditions following a rise in the local price of tejabi gold, or pure gold.
Under the new rates, 21-carat gold has been set at Tk250,193 per bhori, 18-carat gold at Tk214,443, while gold made under the traditional method will cost Tk175,485 per bhori.
Buyers will also have to pay a 5 per cent government-imposed VAT along with a minimum 6 per cent making charge fixed by BAJUS, which may vary depending on design and craftsmanship.
A day earlier, on Monday, BAJUS had cut gold prices twice before reversing course with Tuesday’s sharp increase.
With the latest move, gold prices have been adjusted 24 times so far this year, including 16 increases and eight reductions.
Silver prices were also revised on Tuesday, with 22-carat silver reduced by Tk175 to Tk6,532 per bhori, while 21-carat silver was set at Tk6,240, 18-carat at Tk5,365 and traditional silver at Tk4,024 per bhori.
This was the 16th revision of silver prices this year, with rates increased 10 times and reduced six times.
In the international market, spot gold prices jumped more than 6 per cent in a single session, rising by over $280 an ounce to trade around $4,900 per ounce.
