Gold has become even more expensive in Bangladesh, as the Bangladesh Jewellers’ Association (Bajus) has increased its prices for the 18th time this year.
On Monday, Bajus set the price of 22-carat gold at Tk 172,545 per bhari (11.664 grams), effective from Tuesday.
Just a day earlier, on Sunday, the price of 22-carat gold stood at Tk 167,833 per bhori, following a decision made on Saturday.
The latest hike marks an increase of Tk 4,712 per bhari.
So far this year, Bajus has raised gold prices 18 times while reducing them on six occasions.
Despite gold prices in Bangladesh already being higher than those on the global market, Bajus has continued to justify the hikes, citing a global upward trend. But, the association’s pricing often outpaces international forecasts.
Bajus also reminded traders that the selling price of gold and silver must include 5 percent VAT, as per government regulations, along with a 6 per cent minimum wage for workers, as set by the association.
This means that a 22-carat gold ornament weighing one bhori would now cost around Tk 191,545 – the highest price ever recorded in the country.
The rising cost has led many consumers, particularly from middle-income households, to turn to alternative metals as gold becomes increasingly unaffordable.
