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Gold prices make big jump in Bangladesh after two rounds of cuts
After two consecutive reductions, gold prices in the domestic market have surged again, with the Bangladesh Jewellers Association (BAJUS) raising the rate by Tk 2,612 per bhori for 22-carat gold.
The new price has been set at Tk 209,520 per bhori, effective from Thursday.
BAJUS announced the revised rates in a statement issued on Wednesday night, citing an increase in the price of pure gold (tejaabi gold) in the local market as the main reason for the adjustment.
As per the new tariff, the price of 22-carat gold per bhori (11.664 grams) will be Tk 209,520. The price of 21-carat gold has been fixed at Tk 200,003 per bhori, 18-carat gold at Tk 171,426 per bhori, and traditional gold at Tk 142,592 per bhori.
In addition to the selling price, buyers must pay a mandatory 5 percent government VAT and a minimum 6 percent BAJUS-set making charge. However, the making charge may vary depending on the design and craftsmanship of the jewellery.
Earlier, on November 18, BAJUS last adjusted gold prices, lowering the 22-carat rate by Tk 1,364 to Tk 206,908 per bhori.
With this latest revision, gold prices have been adjusted 79 times so far this year, 54 increases and 25 decreases.
Despite the price hike, silver rates remain unchanged. A bhori of 22-carat silver is still selling at Tk 4,246 in the domestic market, reports UNB.