Gold price jumps by Tk 2,216 per bhori

Gold prices in Bangladesh have been raised by Tk 2,216 per bhori, with the new rate for 22-carat gold set at Tk 2,61,040, Bangladesh Jewellers Association (Bajus) announced on Monday, reports UNB.
In a statement issued in the morning, the association said the decision was taken in view of a rise in the price of pure gold in the local market and considering the overall market situation.
Under the revised rates, 21-carat gold will cost Tk 249,143 per bhori (11.664 grams), while 18-carat gold has been priced at Tk 213,568 per bhori.
The gold of the traditional method has been fixed at Tk 174,785 per bhori.
The selling price must include a mandatory 5.0 per cent government-set VAT and a minimum 6.0 per cent making charge set by Bajus.
However, making charges may vary depending on the design and quality of jewellery.
The last adjustment was made on the morning of February 21, when Bajus increased the price of 22-carat gold by Tk 3,266 per bhori to Tk 258,824.
With the latest revision, gold prices have been adjusted 32 times in the domestic market so far this year, raised on 20 occasions and reduced 12 times.
Despite the hike in gold prices, silver rates remain unchanged.
Currently, 22-carat silver is being sold at Tk 6,707 per bhori, while 21-carat silver costs Tk 6,415, 18-carat silver Tk 5,482, and silver of the traditional method Tk 4,082 per bhori.
So far this year, silver prices have been adjusted 18 times, including 11 increases and seven decreases.