The Bangladesh Jeweller’s Association (BAJUS) has increased the price of gold for the second consecutive day on Friday, surging the rate of 22-carat gold by BDT 4,374 per bhori.
The organization officially announced the revised pricing structure through a notice released in the morning.
Under the newly instituted rates, each bhori (11.664 grams) of top-tier 22-carat gold will now retail at BDT 228,556 in the domestic market, a figure that is fully inclusive of VAT.
Simultaneously, BAJUS fixed the price of 21-carat gold at BDT 218,292 per bhori, 18-carat gold at BDT 187,440 per bhori, and traditional gold at BDT 153,148 per bhori.
This back-to-back hike closely follows the association's previous price revision on July 2, where the rate was bumped up by BDT 2,216 per bhori to set 22-carat gold at BDT 224,182 inclusive of VAT.
The association confirmed that these new prices will remain effective at all jewelry outlets across the country until further notice, though making charges will continue to apply depending on the specific design of the ornaments.
BAJUS explicitly clarified that since VAT is already integrated into the baseline sale price of both gold and silver ornaments, jewellers are strictly prohibited from charging VAT separately to customers.
Furthermore, the association's existing rules will remain applicable to the exchange and purchase of ornaments, which excludes specified VAT, making charges, and the cost of embedded stones.
This latest development marks a highly volatile year for the precious metal; the price of gold has been adjusted a total of 86 times in the domestic market so far this year, encompassing 43 hikes, 42 cuts, and one specific VAT adjustment.
Alongside the gold surge, the price of silver has also experienced an upward revision.
The price of 22-carat silver has been set at BDT 4,899 per bhori, reflecting an increase of BDT 117.
For other grades, the price of 21-carat silver has been fixed at BDT 4,666 per bhori, 18-carat at BDT 4,024 per bhori, and traditional silver at BDT 3,033 per bhori.
Much like gold, silver has seen frequent market fluctuations, having been adjusted 53 times so far this year through 27 hikes and 26 cut
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