Gold price rises again after three consecutive cuts

The price of gold has risen again in domestic markets after three consecutive rounds of cuts, with the Bangladesh Jewellers Association (BAJUS) raising the price of 22-carat gold by Tk 4,474 per bhori to Tk 236,354.

The new price came into effect at 10am on Thursday (September 3), BAJUS said.

The association attributed the latest increase to a rise in the price of pure gold and silver in the local market. The decision was taken at a meeting of BAJUS’s Standing Committee on Pricing and Price Monitoring on Thursday morning.

Under the new rates, 22-carat hallmarked gold costs Tk 20,350 per gram, while 21-carat and 18-carat gold are priced at Tk 19,435 and Tk 16,685 per gram, respectively. Gold under the traditional system has been set at Tk 13,630 per gram.

BAJUS also raised silver prices. The price of 22-carat silver has been set at Tk 440 per gram, 21-carat at Tk 425, 18-carat at Tk 365 and traditional silver at Tk 275.

The latest hike comes a day after BAJUS cut the price of 22-carat gold by Tk 4,374 to Tk 231,880 per bhori. The price was also reduced by Tk 4,374 on August 31 and by Tk 7,115 on August 29.

BAJUS said the new rates will remain in effect at jewellery shops nationwide until further notice. Labour charges will apply according to the design of the jewellery, while VAT cannot be charged separately from customers as it is already included in the selling price.