Local jewelers in Bangladesh have raised the price of 22-carat gold by Tk 1,936 per bhori (11.664 grams), reaching a historic high. The decision, made by the Bangladesh Jewelers Association (BAJUS), follows an increase in pure gold prices in both the local and global markets.
Gold prices in Bangladesh have been rising for over a year, surpassing Tk 100,000 per bhori for the first time in July 2022. This latest price hike is the fourth since the resignation of Prime Minister Sheikh Hasina on August 5. BAJUS plans to hold a press conference to address gold smuggling and money laundering, urging law enforcement to take action. Despite low gold imports, prices in Bangladesh remain closely tied to international trends. Currently, 80% of the country’s gold demand, estimated between 20 and 40 tonnes annually, is met through smuggling.
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