Gold price increases by 9,856 taka per bhori

The Bangladesh Jewellers Association (Bajus) has raised the price of gold in the domestic market by a significant margin, fixing the price of 22-karat gold at 232,930 taka per bhori, including VAT, following an increase of 9,856 taka.

The new price came into effect from 10am on Thursday, according to a notification issued by the association.

Bajus said the decision was taken in line with the rising price of pure gold in the local market, prompting the latest price adjustment.

Under the revised rates, 21-karat gold will now cost 222,491 taka per bhori, 18-karat gold 191,056 taka per bhori, and traditional gold 156,064 taka per bhori, all inclusive of VAT, the notification said.

The revised prices will remain effective at all jewellery outlets until further notice. Bajus said making charges will be added separately depending on the design of the ornament.

Since VAT is already included in the sale price of gold and silver jewellery, it cannot be collected separately from customers, the association said.

The existing Bajus rules for the exchange and purchase of ornaments, excluding specified VAT, making charges and stone costs, will remain unchanged.

The previous adjustment was made on July 31, when the price of 22-karat gold was increased by 2,216 taka per bhori to 223,074 taka, including VAT.

At the time, 21-karat gold was priced at 213,043 taka per bhori, 18-karat gold at 182,950 taka per bhori, and traditional gold at 149,474 taka per bhori, effective from 10:30am that day.

With Thursday's revision, the price of gold has been adjusted 98 times so far this year in the domestic market, including 48 increases, 49 decreases, and one VAT-related adjustment, according to Bajus data.

Alongside gold, the price of silver was also increased. The price of 22-karat silver rose by 292 taka per bhori to 4,899 taka, including VAT.

The price of 21-karat silver was fixed at 4,666 taka per bhori, 18-karat silver at 4,024 taka per bhori, and traditional silver at 3,033 taka per bhori.

So far this year, the price of silver has been revised 61 times, including 31 increases and 30 decreases, Bajus said.