Bangladesh’s gold market has witnessed a notable shift as the Bangladesh Jewellers Association (BAJUS) has reduced gold prices after four consecutive hikes. The new adjustment cuts Tk 5,447 from the price of each tola of 22-carat gold, bringing it down to Tk 208,272. The decision, announced via a BAJUS press release on Saturday, will take effect from Sunday.
This downward revision follows the most recent adjustment on 13 November, when BAJUS increased the price of 22-carat gold by Tk 5,248 per tola, setting the rate at Tk 213,719—one of the highest figures recorded in Bangladesh’s retail gold market.
Under the new pricing framework, 22-carat gold (weighing 11.664 grams per tola) is now valued at Tk 208,272. Prices for other grades have been adjusted accordingly: 21-carat gold will be sold at Tk 198,801 per tola, 18-carat at Tk 170,399, and gold sold under traditional standards at Tk 141,717 per tola.
Industry insiders point out that the gold market has faced pronounced instability throughout the year. BAJUS has altered gold prices a staggering 77 times—an unprecedented level of volatility—reflecting both domestic and international economic uncertainty. Of these adjustments, 53 resulted in price increases, while only 24 involved reductions. In contrast, last year saw 62 adjustments in total, indicating that 2024 has been far more unpredictable.
Experts attribute these fluctuations to rising global gold prices, disruptions in international supply chains, and the persistent depreciation of the Bangladeshi Taka against major currencies. Although consumers may welcome the current price reduction, analysts caution that the market is likely to remain sensitive to global economic trends, and further adjustments—either upward or downward—cannot be ruled out.