Gold prices rise again after two days: 22-carat gold now Tk 220,786 per bhori

The Bangladesh Jewellers Association (BAJUS) has decided to raise gold prices again, just two days after cutting them. The association adjusted prices anew because the price of pure (tejabi) gold has risen in the local market.

The new prices took effect from 10am on Monday (November 2). Under the new rates, a gram of 22-carat hallmarked gold jewellery costs Tk 18,935 including VAT. That puts the price per bhori (11.664 grams) at Tk 220,786.

The decision was taken on Monday morning at a meeting of the BAJUS Standing Committee on Pricing and Price Monitoring. The meeting was chaired by the committee's chairman, Dr Dewan Aminul Islam Shahin.

Under the new BAJUS price list, 21-carat gold jewellery is priced at Tk 18,085 per gram, or Tk 210,871 per bhori. Gold of 18 carats costs Tk 15,535 per gram, which is Tk 181,128 per bhori.

Traditional-method gold jewellery has been priced at Tk 12,690 per gram, putting its price per bhori at Tk 147,932.

Under the new rates, the price of 22-carat gold has risen by Tk 3,194 per bhori compared with the previous price.

Earlier, on Saturday, BAJUS had cut gold prices in the domestic market. That day the price of the best-quality, 22-carat gold was reduced by Tk 5,481 per bhori, set at Tk 217,592 including VAT, effective from 10am Saturday. But because of the rise in pure gold prices, BAJUS has decided to increase prices again after two days.

Alongside gold, BAJUS has also set prices for silver jewellery. Under the new list, 22-carat silver costs Tk 300 per gram including VAT; 21-carat silver is Tk 290 per gram, 18-carat Tk 250 per gram, and traditional-method silver Tk 190 per gram.

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

In addition, excluding making charges and the price of stones, 12 percent will be deducted when exchanging old gold jewellery and 18 percent when buying old jewellery. However, VAT cannot be deducted separately in exchange and purchase cases.

The BAJUS-set prices will remain in force at all jewellery shops in the country until the next decision.