Gold prices in Bangladesh jumped sharply on Tuesday, rising by a total of Tk16,330 per bhori in a single day following two separate price hikes announced by the Bangladesh Jewellers Association (BAJUS).
The sudden increase pushed the price of 22-carat gold back above Tk260,000 per bhori, marking one of the steepest one-day surges in recent months.
In a notification issued on Tuesday morning, BAJUS said it had raised the price of 22-carat hallmarked gold by Tk5,424 per bhori. A second announcement later in the afternoon added another Tk10,906, taking the total increase for the day to Tk16,330.
Following the revisions, the price of 22-carat gold has been fixed at Tk262,090 per bhori, effective immediately.
BAJUS said the adjustment was made in response to the overall market situation, citing a rise in the price of tejabi gold, or pure gold, in the local market.
Under the updated rates, 21-carat gold has been priced at Tk250,193 per bhori, while 18-carat gold will cost Tk214,443. Gold produced under the traditional method has been fixed at Tk175,485 per bhori.
In addition to the listed selling price, buyers will have to pay a five per cent government-imposed VAT along with a minimum six per cent making charge set by BAJUS. The making charge may vary depending on the design and quality of the jewellery.
The sharp rise came just a day after BAJUS had reduced gold prices twice on Monday, bringing the price of 22-carat gold down to Tk245,760 per bhori.
With Tuesday’s increase, gold prices have been adjusted 24 times so far this year, with 16 increases and eight reductions, reflecting heightened volatility in both domestic and global markets.
Silver prices were also revised on Tuesday, though in the opposite direction. The price of 22-carat silver was reduced by Tk175 per bhori and set at Tk6,532. Under the new rates, 21-carat silver now costs Tk6,240, 18-carat silver Tk5,365, and traditional silver Tk4,024 per bhori.
This marks the 16th adjustment of silver prices this year, with prices increased ten times and reduced six times.
The surge in local gold prices comes amid dramatic movement in the global market. International spot gold prices jumped by more than six per cent in a single session, rising by over USD 280 per ounce to trade at around USD 4,900 per ounce, driven by market uncertainty and strong investor demand for safe-haven assets.
