Gold prices slashed by Tk 8,386 per bhori after hitting historic high

Jewellers have cut gold prices by Tk 8,386 per bhori, thanks to a drop in the rates of pure gold in the local market.

From tomorrow, the price of each bhori (11.664 grammes) of 22-carat gold ornaments will be Tk 208,995, down from Tk 217,381.

The Bangladesh Jewellers Association took the decision to decrease gold prices in a meeting today, the association said in a press release.

On October 19, gold prices surged to yet another historic peak, reaching Tk 217,381 per bhori (approximately 11.664 grammes).

Prices of the precious metal in Bangladesh have been rising steadily, setting new records almost every week.

In September alone, the price of 22-carat gold rose by more than Tk 16,000 per bhori.

Industry insiders attribute the surge mainly to the international bullion market, the devaluation of the taka, economic uncertainty, and high inflation.

Although Bangladesh does not import significant volumes of gold, domestic prices remain closely aligned with global trends.

According to the Gold Policy 2018, annual domestic demand in Bangladesh stands between 20 and 40 tonnes.

Meanwhile, around 80 percent of the country's gold demand is met through smuggling, leading to substantial revenue losses for the government, said industry people.

During Bangladesh's Liberation War, gold was sold for Tk 170 per bhori. Within ten years, it reached Tk 3,750 per bhori. By 2000, it hit Tk 6,900, and by 2010, Tk 42,165.

In January 2018, gold crossed Tk 50,000 per bhori for the first time. Five years later, in July 2023, it hit Tk 100,000. After further jumps, it reached Tk 150,000 in February 2025, and later surged past Tk 200,000 per bhori.