Gold prices rise ahead of Eid-ul-Azha

Gold prices in Bangladesh have rised once again ahead of Eid-ul-Azha, with the Bangladesh Jewellers Association (BAJUS) announcing a fresh hike in gold and silver rates effective from Monday morning.

According to a statement issued by BAJUS on Monday (May 25), the price of 22-carat gold has been raised by Tk 2,158 per bhori, setting the new rate at Tk 238,121.

The revised prices came into effect from 10:00am on the same day.

BAJUS said the adjustment was made due to a rise in the price of pure gold in the local market. Under the new pricing structure, 21-carat gold now costs Tk 227,331 per bhori, while 18-carat gold has been fixed at Tk 194,847. The price of traditional-method gold has been set at Tk 158,689 per bhori.

The latest increase comes just days after BAJUS reduced gold prices by the same amount on May 23.

Silver prices have also been increased. Under the revised rates, the price of 22-carat silver has gone up by Tk 117 per bhori to Tk 5,774.

According to market observers, gold and silver prices have been adjusted multiple times this year in response to fluctuations in the international and local bullion markets, with most revisions resulting in price hikes.