Gold Prices Rise Again a Day Later, 22-Carat Bhori Now About Tk 224,767

After four consecutive rounds of cuts and one day of increase, the Bangladesh Jewellers' Association (BAJUS) has raised gold prices again the very next day. The new prices took effect from 10 a.m. on Thursday (October 29).

The decision was taken on Thursday morning at a meeting of BAJUS's Standing Committee on Pricing and Price Monitoring. The association's notice said the new selling prices were set considering the overall situation after the price of pure gold rose.

Under the new rates, hallmarked 22-carat gold jewellery has been set at Tk 19,265 per gram. On that basis, one bhori (11.664 grams) of gold costs about Tk 224,767.

Under BAJUS's new rates, 21-carat gold jewellery is Tk 18,400 per gram and 18-carat is Tk 15,800 per gram. Gold jewellery made by the traditional method is Tk 12,910 per gram.

Per bhori, the new rates put 21-carat gold at Tk 214,637, 18-carat at Tk 184,371, and traditional-method gold at about Tk 150,567.

Alongside gold, BAJUS has also set prices for silver jewellery. Hallmarked 22-carat silver jewellery is Tk 330 per gram, 21-carat Tk 315 and 18-carat Tk 270; traditional-method silver jewellery is Tk 205 per gram.

BAJUS said making charges will apply according to the jewellery's design. Since VAT is included in the set selling price, no separate VAT can be charged to customers.

When exchanging old jewellery, 12 percent must be deducted from the set price after excluding making charges and the value of stones, and 18 percent must be deducted when buying old gold. VAT cannot be deducted separately in these cases.

BAJUS said the new rates will remain in force at all jewellery shops in the country until a further decision is announced.

Before this, after four consecutive rounds of cuts, BAJUS raised gold prices on Wednesday (October 28); that day the increase was up to Tk 2,216 per bhori. As a result, 22-carat gold stood at Tk 223,074 per bhori, 21-carat at Tk 213,043, 18-carat at Tk 182,950, and traditional-method gold at Tk 149,474.

Before that, gold prices had fallen by up to Tk 10,439 per bhori over four consecutive rounds. After Wednesday's increase, prices were adjusted again on Thursday.