Gold, silver prices rise again in domestic market

Gold and silver prices have risen again in markets across the country, with the Bangladesh Jewellers Association (BAJUS) raising the price of 22-carat gold by Tk 1,633 per bhori amid fluctuations in global and domestic bullion markets.

Under the new pricing, a buyer will have to pay Tk 236,779 per bhori, including VAT, for 22-carat gold. The revised prices came into effect across the country at 10:00am on Thursday (August 13).

BAJUS said the adjustment was made based on an increase in the price of locally traded pure gold, known as tejabi or pure gold. The decision was taken unanimously at a meeting of its Standing Committee on Pricing and Price Monitoring after reviewing overall market conditions.

The new price list was formally announced in a press release signed by committee chairman Dr Dewan Aminul Islam Shaheen.

According to the revised rates, 22-carat hallmarked gold jewellery now costs Tk 20,300 per gram, equivalent to Tk 236,779 per bhori. The price of 21-carat gold has been set at Tk 19,390 per gram, while 18-carat gold will cost Tk 16,650 per gram. Gold jewellery made under the traditional method will cost Tk 13,600 per gram.

BAJUS has also revised silver jewellery prices. The new rates are Tk 435 per gram for 22-carat silver, Tk 415 for 21-carat, Tk 360 for 18-carat and Tk 270 per gram for traditional silver.

The association said additional labour charges will apply depending on the design and craftsmanship of the jewellery.

However, since VAT is already included in the announced market prices, jewellers cannot charge customers an additional VAT on top of the listed rates.

BAJUS also said its existing policy will remain in force for the exchange or purchase of old jewellery, excluding applicable VAT, labour charges and the value of stones.

The revised price list will remain in effect at all jewellery shops across Bangladesh until further notice.