Gold prices in Bangladesh have witnessed another sharp rise within just six hours. On Saturday, 28 March, the Bangladesh Jewellers Association (BAJUS) announced that the price of 22-carat gold per bhori has been increased by BDT 4,433, bringing the new rate to BDT 241,445. The revised prices came into effect from 3:45 PM the same day.
According to BAJUS, the updated gold rates across different carats are as follows:
| Gold Carat | Price per Bhori (BDT) | Price with 5% VAT (BDT) |
|---|---|---|
| 22-carat (Hallmarked) | 241,445 | 253,517 |
| 21-carat | 230,423 | 241,944 |
| 18-carat | 197,530 | 207,406 |
| Traditional | 160,847 | 168,890 |
BAJUS cited rising local acid-treated gold prices as one factor for the hike, but the primary driver remains international market movements. On 27 March, the New York spot market saw gold prices rise by USD 110 per ounce, bringing the rate to USD 4,494.
Over the past 30 days, global gold prices fell by USD 795 per ounce, which had prompted reductions in local gold prices. Between 12 March and 27 March, gold prices per bhori were cut by a maximum of BDT 35,575. Following today’s two consecutive hikes, the net increase reached BDT 6,590, leaving a cumulative decline of BDT 28,985 per bhori since 12 March.
Several global factors are sustaining upward pressure on gold prices. Geopolitical tensions, increased gold purchases by central banks, and investors’ search for safe-haven assets have all contributed to a prolonged bullish trend. Internationally, gold prices surged by over 70% last year.
In January, spot market rates approached USD 5,600 per ounce (31.1034768 grams), driving Bangladesh’s domestic price to BDT 286,000 per bhori on 29 January. However, escalating conflicts involving Iran, Israel, and the United States have since caused some volatility, resulting in a gradual decline in local prices.
Financial experts note that with ongoing geopolitical uncertainties and fluctuating global demand, gold is likely to remain a key investment vehicle in the near term. Consumers are advised to consider VAT and market timing before making purchases.
The BAJUS announcement underscores that local gold prices remain closely linked to international spot rates, and investors should remain alert to global market trends for both risk management and optimal buying opportunities.