Gold Price Surges to Record High in Bangladesh

Representational photo

The price of gold in Bangladesh has reached an unprecedented level, as the Bangladesh Jewellers Association (BAJUS) announced another price hike, setting a new all-time record.

Under the revised rates, 22-carat gold has jumped by Tk 3,675 per bhori (11.664 grams), reaching Tk 189,622 — the highest in the country’s history. The new prices will take effect from Wednesday, according to the association’s announcement on Tuesday night.

The price of pure gold (Tejabi) has increased across the local market due to rising international rates and domestic demand, BAJUS said. Alongside 22-carat gold, the price of 21-carat gold has been set at Tk 181,002 per bhori, 18-carat gold at Tk 155,143 per bhori, and traditional Sanatani gold at Tk 128,701 per bhori.

The association emphasized that the selling price of gold must include a 5 percent value-added tax (VAT) as mandated by the government, along with a minimum 6 percent making charge, which can vary depending on jewellery design and craftsmanship.

This latest surge follows a previous price adjustment on September 9, when BAJUS raised 22-carat gold by Tk 3,137 per bhori to Tk 185,947. Analysts point out that the steady climb in gold prices reflects both global market trends and local factors, including currency fluctuations, import costs, and growing demand during festive seasons.

Jewellers have warned consumers that gold may continue to rise in the coming weeks, urging buyers to make timely purchases if they want to avoid higher costs. Industry insiders also highlight that international factors, such as geopolitical tensions and fluctuations in global bullion prices, are influencing local market rates.

The surge in gold prices is expected to impact both investors and ordinary buyers, as gold remains a popular investment and a traditional store of wealth in Bangladesh. Economists suggest that while gold is seen as a safe haven, buyers should consider market trends carefully to avoid speculative risks.

With gold prices hitting record highs, the BAJUS advisory serves as a guideline for jewellers nationwide to ensure uniformity in pricing and compliance with tax regulations, helping protect consumers while maintaining market stability.