The Bangladeshi gold market is currently experiencing pronounced instability, with prices fluctuating sharply within single days, leaving ordinary buyers increasingly perplexed. On Saturday morning, the price of 22-carat gold per bhori (approximately 11.66 grams) was abruptly reduced by BDT 16,000, only to surge again by the afternoon. According to the latest announcement from the Bangladesh Jewellers’ Samity (BAJUS), the current selling price of 22-carat gold stands at BDT 251,184 per bhori.
Just a few days earlier, on Thursday, the country witnessed a historic peak in gold prices, with 22-carat gold reaching BDT 286,000 per bhori. This represents an astonishing increase of BDT 151,000 compared to the same time last year, when the price of a bhori of 22-carat gold was BDT 135,000. Adding 5% VAT and 3–6% craftsmanship charges, purchasing a single bhori of high-quality gold today costs nearly BDT 300,000.
The surging prices have left both buyers and sellers frustrated, with jewellery shops witnessing a sharp slowdown in sales. BAJUS traders point out that the global upward trend in gold prices is directly influencing domestic rates.
Economists explain that in times of potential global economic downturns, investors traditionally turn to gold as a safe haven. International analyses suggest that factors such as the ongoing Ukraine–Russia conflict, the US–China trade tensions, the appointment of the Federal Reserve chairman, volatility in stock markets, and declining interest rates on bonds and bank deposits collectively contribute to market turbulence.
Experts further note that regulatory restrictions on gold importation exacerbate domestic price increases. Consequently, buyers are now gravitating towards alternatives such as city gold or gold-plated jewellery.
The table below summarises gold prices in Bangladesh by purity:
| Type of Gold | Purity | Current Price per Bhori (BDT) | Price as of Monday 11:00 AM (BDT) |
|---|---|---|---|
| 22-carat | 91.6% | 251,184 | 257,774 |
| 21-carat | 87.5% | 239,754 | 246,052 |
| 18-carat | 75% | 205,520 | 210,885 |
| Traditional (~60%) | ~60% | 168,195 | 172,569 |
Bangladesh’s annual gold demand is approximately 21 tonnes. However, legal imports are limited, forcing many to rely on smuggling. Rising costs have also nudged consumers towards more affordable alternatives.
M.A. Hannan Azad, former vice president of BAJUS, commented, “Whenever international crises or conflicts arise, gold prices escalate. Currently, the country’s gold market is in severe crisis. Shops are empty, buyers are absent, and many traders have left the business.”
Analysts warn that if this instability persists, gold will increasingly become unaffordable for middle- and lower-income buyers. With Ramadan and Eid approaching, market turbulence may further impact gold sales during the festive season.