Gold prices soar by Tk 2,333 per bhori

Staff Correspondent

11 May, 2021 12:00 AM printer

Bangladesh Jewelers Samity (BJS) has raised the price of gold by Tk 2,333 per bhori to Tk 71, 442 ahead of Eid-ul-Fitr.

The new price came into effect from Monday (May 10) across the country. This price hike will take the price of 22-carat gold ornaments to Tk 71,442 per bhori.

A press release signed by Enamul Hoque Khan, President of BJS and general secretary Dilip Kumar Agarwala, announced the new gold price on Monday.

The BJS leaders attributed the price hike to a rise in gold prices in the global market as well as a hike in transportation cost.

As per the new price, gold ornaments of 22 carat will be sold at Tk 71,442 per bhori. In addition, 21-carat gold will be selling at Tk 68,293 and 18 carat at Tk 59, 545 per bhori. While gold ornaments will be sold at Tk 49,222 per bhori.

However, the price of silver remains unchanged. The 22-carat silver will be sold at Tk 1,516 per bhori. The 21 carat and 18 carat silver will be sold at Tk 1435 and Tk 1225 per bhori respectively.

Before the price hike, 22 carat gold was selling at Tk 79,109 per bhori, 21 carat gold at Tk 65,960 per bhori, 18 carat gold at Tk 57,212 per bhori and traditional gold ornaments at Tk 46,069 per bhori. 

Earlier, Bangladesh Bank (BB) clarified that only authorized gold dealers will be eligible to import jewelery or gold in line with the gold import policy-2018.

BB has already issued licences to 19 business entities including Modhumoti Bank Limited to import the precious metal.

The gold dealership registration will remain valid for two years and can be renewed upon payment of Tk 2 lakh in fees along with complying with other conditions.

Currently, a passenger can bring 100 grams of gold to the country without paying duty and 234 grams with paying duty under the baggage rules of the NBR.

As per the estimate of the jewellers, the country’s present annual demand for the precious metal is around 42 tonnes or 42,000 kilograms.