BAJUS hikes gold price to new record in less than 24 hours

Bangladesh Jewellers Association (BAJUS) hiked the rate of gold to a historic high of Tk255,616 per bhori, effective from Friday in less than 24 hours after it announced price cuts.

The association last night announced that prices of 22-carat gold will be Tk249,000 per bhori today, down from the previous record of Tk252,000 per bhori, reflecting high volatility.

The announcement came as gold notched another record high today, powered by diminishing confidence in US assets on account of geopolitical tensions and economic uncertainty, reports Reuters.

Spot gold was up 0.4 percent at $4,957.10 per ounce, as of 0536 GMT, after scaling a record $4,966.59 earlier in the day.

Businesspeople said the country’s retail gold market has remained volatile in recent months, influenced by fluctuations in global gold prices, steadily increasing costs of pure gold, and ongoing economic uncertainty.

The metal first crossed Tk50,000 per bhori in January 2018. Five years later, in July 2023, it surpassed Tk100,000. Prices climbed to Tk150,000 per bhori in February 2025 and later surged past the Tk200,000 mark within the same year.