2 weeks Ago
Gold prices in Bangladesh are set to rise again, with the cost of 22-carat gold reaching Tk 138,393 per bhori (11.664 grams) starting from Tuesday. The price hike marks an increase from the previous rate of Tk 137,226 per bhori, as announced by the Bangladesh Jewellers' Association (BAJUS) following a pricing committee meeting on Monday.
The hike was attributed to rising costs of pure gold in the local market, reflecting global trends and supply fluctuations. Gold prices in Bangladesh have been on a consistent upward trajectory for over a year, driven by international market pressures and limited domestic supply. In July last year, the price of gold in the country surpassed Tk 100,000 per bhori for the first time, signaling a significant shift in the market.
Despite minimal gold imports, prices in Bangladesh remain closely tied to global rates. The country’s annual gold demand ranges between 20 to 40 tonnes, with an estimated 80 percent of this demand being met through smuggled gold. The reliance on unofficial channels further contributes to the volatility in pricing.
The price surge underscores growing challenges for consumers and businesses alike, as gold remains a key commodity in traditional weddings and as a form of investment in Bangladesh..
