Bangladesh Jewellers Association raises domestic gold and silver prices

The Bangladesh Jewellers Association, commonly known as Bajus, has officially announced a price increase for both gold and silver across the domestic market in Bangladesh. According to the official notification issued on Thursday, August 20, the adjustments have resulted in a notable rise for consumers purchasing precious metals nationwide.

Under the newly implemented pricing structure, the price of gold has increased by 3,849 taka per bhori. Consequently, the price for the highest quality gold has now reached 2,40,628 taka per bhori. For context, the same category of gold was being bought and sold at 2,36,779 taka per bhori on Wednesday, prior to the latest market adjustment.

Breaking down the specific categories announced by Bajus, 22-carat gold is now priced at 2,40,628 taka per bhori, while 21-carat gold stands at 2,29,781 taka per bhori. Additionally, 18-carat gold has been fixed at 1,97,355 taka per bhori, and traditional method gold is priced at 1,61,196 taka per bhori.

Along with gold, silver prices have also experienced an upward revision in the local market. The price of silver has been increased by 233 taka per bhori, bringing the rate for 22-carat silver to 5,307 taka per bhori. Furthermore, 21-carat silver is priced at 5,074 taka per bhori, 18-carat silver at 4,374 taka per bhori, and traditional method silver at 3,324 taka per bhori.

According to the notification released by Bajus, these newly revised prices became effective immediately from 10:00 AM on Thursday. The association explained that the domestic price hike was necessitated by an increase in the cost of pure gold, known as tezabi gold, as well as the need to maintain alignment with the international market, where gold is priced at 4,490 dollars per ounce according to goldprice.org.