Record in the price of gold, how much has increased?
September 22, 20243 Mins Read
Jumbangla Desk: Bangladesh Jewelers Association (BAJUS) has decided to increase the price of gold in the country's market again. This time the price of 22 carat gold has been increased by 3 thousand 149 taka to 1 lakh 33 thousand 51 taka. Which is the highest in the history of the country.
Bajus informed this information in a circular on Saturday (September 21) evening. The new prices will be effective from Sunday (September 22).
According to the notification, the price of pure gold has increased in the local market. As a result, the new price of gold has been fixed considering the overall situation.
According to the new price, per bhari (11.664 grams) of 22 carat gold will cost Tk 1 lakh 33 thousand 51. Apart from this, the price of gold has been set at 1 lakh 26 thousand 998 taka per 21 carat, 1 lakh 8 thousand 860 taka per 18 carat and 89 thousand 218 taka per traditional method.
New price of gold per bar in graphic image
Meanwhile, the price of gold is increasing by leaps and bounds in the global market. This is the first time in history that the price of 1 ounce of gold has exceeded 2,600 dollars. At the time of writing this report, the price of gold in the spot market was 2 thousand 622.3 decimal dollars. The price of gold per ounce increased by 34.95 dollars or 1.35 percent in one day in the world market.
Those concerned say that the tendency to buy gold is increasing in the world due to the reduction of the interest rate by the Federal Reserve. The rate at which prices are rising in the global market, the price of gold per ounce may rise at any time. And if the price increases in the global market, it affects the domestic market as well. As a result, prices are adjusted in the country's market as well.
Gold prices rose to a record high above $2,609 an ounce, two days after the Federal Reserve cut lending rates for the first time since the start of the pandemic and signaled further cuts, Xinhua reported from Hong Kong.
In the notification, Bajus also said that the selling price of gold must be added to the government-mandated 5 percent VAT and Bajus-mandated minimum wage of 6 percent. However, the wages may vary depending on the design and quality of the jewellery.
Earlier, Bajus last adjusted the price of gold in the domestic market on September 14. At that time, the organization had increased the price by 3 thousand 581 taka to 1 lakh 29 thousand 902 taka for a 22 carat gold bar. Apart from this, the price of gold was fixed at Tk 1 lakh 24 thousand per 21 carat, Tk 1 lakh 6 thousand 282 per 18 carat and Tk 87 thousand 13 per traditional method. Which came into effect from last September 15.
It should be noted that the price of gold has been adjusted 39 times in the country's market so far this year. Where the price has been increased 23 times, and reduced 16 times. And in 2023, the price was adjusted 29 times.
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The price of gold has increased but the price of silver has remained unchanged. Currently in the market, a 22 carat silver is Tk 2 thousand 100, 21 carat is Tk 2 thousand 6, 18 carat is Tk 1 thousand 715 and traditional method is selling at Tk 1 thousand 283.
