Bangladesh Jewellers Association (Bajus) has increased the price of gold in the local market to Tk 232,930 per bhori, inclusive of VAT, with a hike of Tk 9,856.
This decision will come into effect from 10AM on Thursday, according to a notification issued by the association.
This has been decided keeping in view the price increase of pure gold in the local market.
According to the new rate, the price of 21-karat gold would now stand at Tk 222,491 per bhori, 18-karat at Tk 191,056, and traditional gold at Tk 156,064 per bhori, all inclusive of VAT, the notification added.
These prices will be applicable at all jewellery shops until further notice, Bajus said, adding that the charge for making ornaments will vary according to the designs of the ornaments.
As VAT has been included in the sale price of gold and silver ornaments, it can not be collected separately from customers, the association said.
All the other rules of exchange and purchase of ornaments of the Bajus, except the specified VAT, making charges, and cost of stones, will remain unaltered, it added.
This price increase is the latest in a series of price changes made since the beginning of the year. On July 31, the price of 22-karat gold was increased to Tk 223,074 per bhori, inclusive of VAT, with a hike of Tk 2,216.
At that time, the price of 21-karat gold was Tk 213,043 per bhori, 18-karat at Tk 182,950, and traditional gold at Tk 149,474 per bhori.
By Thursday's increase, the price of gold has been adjusted 98 times this year in the domestic market with 48 increases, 49 decreases and once VAT-based price changes, according to the statistics of Bajus.
Along with gold, the price of silver has been increased. The price of 22-karat silver has been increased to Tk 4,899 per bhori, inclusive of VAT, by Tk 292.
The price of 21-karat silver was Tk 4,666 per bhori, 18-karat at Tk 4,024, and traditional silver at Tk 3,033 per bhori.
So far this year, the price of silver has been adjusted 61 times with 31 increases and 30 decreases, Bajus said.