Gold Price is Now 1,42,000 Taka per Bhori in Bangladesh
Gold Price Hits Record High in Bangladesh, Now 1,42,000 Taka per Bhori
The gold market in Bangladesh has reached a new historic high. For the first time, the price of 22-carat gold has surged to 1,41,951 Taka per bhori (11.66 grams). On Tuesday, October 22, the Bangladesh Jewellers’ Association (BAJUS) announced this new price adjustment, which will take effect from Wednesday, October 23. With this increase, the price per bhori has gone up by 1,890 Taka, creating additional challenges for buyers, especially with the upcoming wedding season.
New Gold Price List
BAJUS has introduced new prices across all categories of gold. The updated rates are as follows:
- 22-carat gold: 1,41,951 Taka per bhori
- 21-carat gold: 1,35,501 Taka per bhori
- 18-carat gold: 1,16,138 Taka per bhori
- Traditional gold: 95,423 Taka per bhori
Previously, 22-carat gold was sold at 1,40,061 Taka per bhori. After the latest hike, prices have increased as follows:
- 22-carat gold: +1,890 Taka
- 21-carat gold: +1,797 Taka
- 18-carat gold: +1,539 Taka
- Traditional gold: +1,306 Taka
No Change in Silver Prices
While gold prices have seen a significant rise, silver prices remain unchanged. Hallmarked 22-carat silver will continue to sell at 2,100 Taka per bhori.
Why the Price Increase?
The increase in gold prices in Bangladesh is a reflection of trends in the international market. Fluctuations in the exchange rate of the US dollar, inflation, and global economic instability often impact gold prices worldwide. With rising demand for precious metals globally, local markets have no choice but to adjust prices accordingly. According to industry insiders, aligning with international market trends is essential to maintaining market stability.
Impact on Consumers and Businesses
The rising gold prices are expected to affect both consumers and businesses. During the wedding season and festive periods, the demand for gold usually surges. However, with this price hike, many buyers may face financial strain when purchasing jewelry. On the other hand, jewelers argue that the price increase was unavoidable given the rising costs in the global market.
Effective Date of New Prices
The newly adjusted prices will take effect from Wednesday, October 23, as per the Bangladesh Jewellers’ Association’s decision.
While the short-term impact of this price surge may reduce gold demand, industry experts believe that if the global market stabilizes, local gold prices might also see some relief in the future.
This record-breaking increase in gold prices marks a significant moment for both buyers and sellers in Bangladesh. Moving forward, the market will closely follow global economic conditions to determine whether prices will continue to rise or stabilize.
