After four consecutive drops, the Bangladesh Jewellers’ Association (BAJUS) has announced a significant increase in gold prices in the domestic market. This surge again pushes the price of gold above the BDT 2 lakh mark.
New Price Hike Details
In a press release issued on Wednesday (October 29), BAJUS stated that the price of gold has been raised by up to BDT 8,900 per bhori (approximately 11.664 grams). The new price for the best quality 22-carat gold will be BDT 2,02,709 per bhori. These new rates will be effective from Thursday, October 30.
Historical Context and Reasons
The last recorded historical high was on October 20 of the current month, when the price soared to BDT 2,17,382. Following that, gold prices saw four consecutive reductions, dropping by BDT 23,573 to BDT 1,93,809. The latest announcement reverses this downward trend after only a single day.
BAJUS attributed the adjustment to an increase in the price of acid gold (pure gold) in the local market. The primary reason, however, is cited as a jump in the global gold price, with the international market seeing the price of gold per ounce rise above $4,000.
New Gold and Silver Rates
The new price structure for gold per bhori is as follows:
Meanwhile, the price of silver remains unchanged. The rates per bhori are: 22 Carat: BDT 4,246, 21 Carat: BDT 4,047, 18 Carat: BDT 3,476, Traditional Method: BDT 2,601
