Gold price rises by Taka 4,374 per bhori

Bangladesh Jewellers Association (BAJUS) on Saturday raised the price of gold by Taka 4,374 per bhori, setting the price of 22-carat gold, including VAT, at Taka 234,038 per bhori.

BAJUS announced the new rate in a notice issued on Saturday morning, saying it will take effect from 10am the same day.

The trade body said the price adjustment was made in view of the rising price of pure gold in the local market.

According to the new rate, 21-carat gold will now cost Taka 223,541 per bhori, 18-carat gold Taka 191,931 per bhori, and traditional gold Taka 156,822 per bhori, all inclusive of VAT.

BAJUS said the new prices will remain effective at all jewellery outlets across the country until further notice, though making charges will vary depending on the design of ornaments.

Since VAT is already included in the selling price of gold and silver ornaments, it cannot be charged separately from customers, the notice added.

Existing BAJUS rules on ornament exchange and purchase, excluding specified VAT, making charges and stone costs will remain unchanged.

The previous price adjustment was made on the morning of August 7, when BAJUS cut the price of 22-carat gold by Taka 3,266 per bhori to Taka 229,664, including VAT.

At that time, 21-carat gold was priced at Taka 219,342, 18-carat at Taka 188,374, and traditional gold at Taka 153,848 per bhori, effective from 10am that day.

With Saturday's revision, the price of gold has been adjusted 100 times in the local market so far this year, with 49 increases, 50 decreases, and one VAT-related adjustment.

While gold prices went up, the price of silver remained unchanged in the domestic market. Currently, 22-carat silver, including VAT, is being sold at Taka 4,899 per bhori.

Silver of 21-carat, 18-carat and traditional grades are being sold at Taka 4,666, Taka 4,024 and Taka 3,033 per bhori, respectively.

Silver prices have been adjusted 61 times so far this year, with 31 increases and 30 decreases, according to BAJUS.