The Bangladesh Jewellers Association (Bajus) has announced another increase in gold prices in the domestic market. Under the new rates, the price of 22-carat gold has risen by Tk 2,508 per bhori (11.664 grams), bringing the new price to Tk 232,930 per bhori.
Bajus disclosed the revised prices in a statement issued on Thursday morning. According to the new pricing structure, the updated rates took effect nationwide from 10am on the same day.
The association said the adjustment was made due to changes in international gold prices and an increase in the price of pure gold in the local market. The decision was taken following a review of the latest market conditions and recommendations from Bajus` Standing Committee on Pricing and Price Monitoring.
Under the new rates, a bhori of 22-carat gold is priced at Tk 232,930. However, buyers will have to pay more after the addition of the government-imposed 5 percent VAT and the minimum making charge set by Bajus.
Gold prices in the country have been revised several times in recent months. Industry insiders say fluctuations in international gold prices, exchange rate movements of the US dollar, and the cost of importing raw gold continue to influence domestic prices.
According to gold traders, the sustained rise in global gold prices has been reflected in the local market, contributing to the recent upward trend.
With the new rates now in effect, consumers will have to spend more to purchase gold jewellery. The final retail price of gold ornaments will also include VAT and making charges in addition to the base gold price.
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