Gold prices hit historic high

The Bangladesh Jewelers Association (Bajus) has announced another hike in gold prices in the country’s market. The price has been raised by a maximum of Tk3,243 per bhori. With this price increase, the cost of one bhori (11.664 grams) of 22-carat gold will now be Tk154,525, marking the highest price in the country's history.

The new prices were announced in a press release signed by Masudur Rahman, chairman of Bajus's Price Determination and Monitoring Committee, on Thursday. The new prices will take effect from Friday.

According to Bajus, the price increase follows the rise in the cost of refined gold (pure gold) in the local market.

Under the new pricing, 22-carat gold will be sold at Tk154,525 per bhori, 21-carat gold will be priced at Tk143,001 per bhori, and 18-carat gold will be sold at Tk122,577 per bhori. The price of traditional-style gold will be Tk104,206 per bhori.

Bajus further mentioned that the gold sale price will include the government-mandated 5% VAT and a minimum 6% labour charge as set by Bajus. However, the labour charge may vary based on the design and quality of the jewellery.

Earlier, on February 17, the price of gold had reached a record high of Tk151,282 per bhori.

As of Thursday, 22-carat gold was being sold at Tk151,282 per bhori, 21-carat gold at Tk147,503, 18-carat gold at Tk126,426, and traditional-style gold at Tk101,932 per bhori.

This is the fifth increase in the price of gold in February, each time breaking previous records. Gold prices also increased three times in January.

Despite the rise in gold prices, the price of silver remains unchanged. Depending on the category, 22-carat silver costs Tk2,578 per bhori, 21-carat silver is priced at Tk2,449, 18-carat silver at Tk2,111, and traditional silver costs Tk1,586 per bhori.