Gold price rises again; 22K gold now costs Tk224,182 per bhori

The Bangladesh Jewellers Association (BAJUS) has once again decided to increase gold prices in the local market. This time, the price of 22-carat gold has been raised by Tk2,741 per bhori, setting the new price at Tk224,182 per bhori, including VAT.

BAJUS announced the revised prices in a statement issued on Wednesday (July 22), saying the new rates took effect from 10:00 am the same day.

According to the statement, the price of pure gold (acid gold) has increased in the local market. Considering the overall market situation, BAJUS has set new gold prices inclusive of VAT.

Under the revised rates, the price of 22-carat gold jewellery is Tk224,182 per bhori (11.664 grams), including VAT.

The new prices for other categories are:

21-carat gold: Tk214,093 per bhori

18-carat gold: Tk183,883 per bhori

Traditional-method gold: Tk150,232 per bhori

BAJUS said the revised prices will remain effective at all jewellery stores until further notice. However, making charges will vary depending on the jewellery design. Since VAT is already included in the selling price of gold and silver ornaments, jewellers are not allowed to charge VAT separately from customers.

The association also said that its existing rules for the exchange and purchase of jewellery will remain unchanged, excluding specified VAT, making charges, and the value of any gemstones.

Previously, on July 21, BAJUS had also revised gold prices. At that time, the price of 22-carat gold jewellery was increased by Tk1,633 per bhori to Tk221,441, including VAT.

The previous prices were:

21-carat gold: Tk211,468 per bhori

18-carat gold: Tk181,608 per bhori

Traditional-method gold: Tk148,366 per bhori

With this latest revision, gold prices have been adjusted 93 times in the domestic market so far this year. Of those adjustments, prices have increased 45 times, decreased 47 times, and VAT has been revised once.