Gold Prices Drop by Tk 2,216 per Bhori in Bangladesh
The price of gold in Bangladesh has decreased by 2,216 Taka per bhori, with the new rates taking effect on Friday morning. The Bangladesh Jewelers Association (BAJUS) announced the price adjustment, citing a reduction in the price of pure gold in the domestic market. This drop follows a recent increase of 2,216 Taka per bhori just three days prior, on the preceding Tuesday. Under the new pricing, 22-carat gold now costs 223,074 Taka per bhori, 21-carat is priced at 213,043 Taka, 18-carat at 182,950 Taka, and traditional gold at 149,474 Taka. Earlier in the year, on January 29, gold prices reached a historic high of 286,000 Taka per bhori. The current price reduction sees a decrease of 2,216 Taka for 22-carat, 2,100 Taka for 21-carat, 1,750 Taka for 18-carat, and 1,458 Taka for traditional gold. Jewelry businesses will no longer collect separate VAT from customers on gold ornaments, as a fixed VAT of 2,500 Taka per bhori has been set for the 2026-27 fiscal year budget, replacing the previous 5% VAT on the total price. Globally, spot gold prices saw a slight decrease, trading at $4,074 per ounce, down 0.66% from the previous day. In contrast, silver prices remain unchanged, with 22-carat silver at 4,607 Taka per bhori and 21-carat at 4,374 Taka.
The fluctuation in gold prices, influenced by both domestic market dynamics and global spot prices, highlights the commodity's sensitivity to supply and demand shifts. The adjustment in VAT policy, moving from a percentage-based system to a fixed rate, represents a governmental effort to standardize taxation and potentially simplify transactions for consumers, though its long-term impact on market volume and revenue requires observation. The divergence between gold and silver price movements suggests distinct market drivers for each precious metal, warranting further investigation into factors influencing their respective valuations. As the market navigates these changes, understanding the interplay between international commodity trends, national fiscal policies, and consumer behavior will be crucial for stakeholders in the jewelry sector over the next decade.
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