Gold Prices Soar in Bangladesh
In a surprising turn of events, the price of gold has once again surged in the local market, reaching new heights. The cost of a 22-carat gold per bhori has increased to BDT 1,983, marking a significant uptick in the gold market across the country. This spike in prices has led to a revision in the selling rates of 22-carat gold per bhori, now priced at BDT 1,41,426.
Impact on Local Market
The Bangladesh Jewellers Association (BAJUS) announced the latest price hike for gold on Wednesday, indicating a shift in the gold market dynamics. The surge in prices has primarily affected the selling rates of 21-carat and 18-carat gold, with prices set at BDT 1,34,999 and BDT 1,15,719 per bhori, respectively. Additionally, traditional gold prices have been set at BDT 95,062 per bhori.
Revised Pricing for Silver
While gold prices have seen a significant increase, silver rates remain unchanged. Currently, the selling price for 22-carat silver per bhori stands at BDT 2,578, with variations in pricing based on the carat category.
Consumer Impact and Market Trends
For consumers looking to purchase gold or silver jewelry, the revised rates come with additional costs. Buyers will now have to factor in a 5% VAT and 6% duty when making their purchases. This means that purchasing a bhori of 22-carat gold jewelry at the new rate of BDT 1,41,426 will actually cost BDT 1,56,983 (BDT 1,41,426 for gold price, BDT 7,071 for VAT, and BDT 8,486 for duty).
This sudden price hike comes after a recent dip in gold rates earlier in January, which saw prices drop significantly. However, with the current surge in prices, consumers can expect to pay higher prices for quality gold and silver jewelry across the country.
As the market continues to fluctuate, it is essential for consumers to stay informed about the latest pricing trends to make informed purchasing decisions. Whether buying for personal use or as an investment, understanding the current market rates is crucial in navigating the jewelry market effectively.
In conclusion, the recent spike in gold prices in Bangladesh has significant implications for consumers and the jewelry industry as a whole. Stay tuned for further updates on market trends and pricing adjustments to make the most of your jewelry purchases.
