Gold prices have jumped significantly in the local market with the Bangladesh Jewellers Association (BAJUS) raising the price of 22-carat gold by Tk4,374 per bhori within a day.

According to a BAJUS notice issued on Saturday (8 August), the price of one bhori (11.664 grams) of 22-carat gold has been set at Tk234,038, including VAT. The new price will take effect from 10:00am today.

BAJUS said the price of pure gold, locally known as Tejabi gold, had increased in the domestic market. Considering the overall market situation, the association revised the prices of gold accordingly.

Under the new rates, one bhori of 21-carat gold will cost Tk223,541, while 18-carat gold will be priced at Tk191,931 per bhori. The price of traditional-method gold has been set at Tk156,822 per bhori.

The latest adjustment came just a day after BAJUS last revised gold prices on 7 August. On that occasion, the association cut the price of 22-carat gold by Tk3,266 per bhori to Tk229,664, including VAT.

The prices of 21-carat, 18-carat and traditional-method gold were then set at Tk219,342, Tk 188,374 and Tk153,848 per bhori, respectively. Those rates took effect from 10am on 7 August.

With Saturday’s adjustment, gold prices in Bangladesh have now been revised 100 times so far this year. Prices have been increased on 49 occasions, reduced on 50 occasions, while VAT was adjusted once.