Gold Surges in Bangladesh as 22-Carat Prices Rise Again

The price of gold in Bangladesh has risen once more, following a fresh tariff adjustment announced by the domestic jewellery trade association. The Bangladesh Jewellers Association (BAJUS) has increased the price of high-quality 22-carat gold by BDT 2,216 per bhari. Consequently, the retail price for a single bhari of 22-carat gold, inclusive of Value Added Tax (VAT), has been fixed at BDT 2,24,182.

According to an official directive from BAJUS, the newly adjusted rates came into effect on Thursday, 2 July, starting from 10:00 AM.

The decision was finalised during a formal session of the BAJUS Standing Committee on Pricing and Price Monitoring. A press release, signed by the committee’s chairman, Dr Dewan Aminul Islam Shahin, confirmed that the price revision was necessitated by a sharp rise in the cost of pure gold—locally known as tejabi gold—within the domestic market. The association stated that the current market volatility left them with little choice but to adjust prices across all categories of the precious metal to maintain market equilibrium.

In Bangladesh, gold trading heavily relies on traditional weight measurements, where one bhari equates to precisely 11.664 grams. Local pricing mechanisms are deeply intertwined with the supply of raw gold and fluctuations in the domestic informal sector, alongside broader international market sentiments. When the price of tejabi gold escalates locally, BAJUS periodically steps in to standardise the rates across the country, ensuring uniform pricing for consumers and jewellers alike.

With the latest adjustment now active, consumers will have to shell out significantly more for luxury ornaments during the ongoing trading season. Industry insiders note that such frequent revisions reflect the ongoing economic pressures and shifting dynamics within the South Asian bullion market, where gold remains both a cultural staple and a preferred safe-haven investment.