Gold Price in Bangladesh Rises Tk2,216 a Bhori, Breaking a Four Cut October Slide

Key takeaways

• BAJUS raised the price of 22 carat gold by Tk2,216 a bhori on Wednesday, the first increase after four straight cuts this month wiped out more than Tk10,000.
• The reversal tracks global spot gold, which dipped below $4,000 an ounce around the time of the last cut and has since firmed back up.
• 22 carat gold now costs Tk223,074 a bhori in Bangladesh, still well below the record highs hit earlier this year.
• Silver prices were left unchanged through the whole stretch.

Bangladesh's jewellers raised gold prices on Wednesday for the first time in nearly two weeks, lifting the 22 carat rate by Tk2,216 to Tk223,074 a bhori. The move ends a run of four consecutive cuts that had pulled prices down by more than Tk10,000 since the start of October, and it tracks a rebound in the international gold market after a brief dip below $4,000 an ounce.

A Month of Whiplash for Gold Buyers

For anyone trying to time a gold purchase in Bangladesh this October, the month has offered little but whiplash. The Bangladesh Jewellers Association, known as Bajus, cut the price of 22 carat gold four times in twelve days: by Tk3,266 on October 13, Tk1,691 on October 22, Tk2,158 on October 23, and Tk3,324 on October 25. Each cut followed the same international benchmark lower, taking the 22 carat rate from roughly Tk231,300 down to Tk220,858 by the morning of October 25.

That slide stopped on Wednesday. Bajus's pricing committee announced a Tk2,216 increase effective from 10am, lifting 22 carat gold to Tk223,074 a bhori. The 21 carat rate rose to Tk213,043, 18 carat gold to Tk182,950, and gold priced by the traditional method to Tk149,474, all figures that include VAT. Silver prices were not touched, staying at Tk3,849 a bhori for 22 carat silver.

Why the Local Price Just Follows the World Price

Bajus does not set gold prices based on local demand alone. The association's pricing committee tracks the international spot rate and adjusts the domestic bhori price to match, almost mechanically. "The local gold market depends entirely on the international market," said Dewan Aminul Islam Shaheen, chairman of Bajus's standing committee on pricing and price monitoring. Asked why prices had turned around after two weeks of cuts, he was blunt: "Now it is rising again, so we have raised ours."

Spot gold was trading near $4,032 an ounce around midday on Wednesday, Bangladesh time, itself down slightly from the day before but well above the roughly $3,996 an ounce level recorded when Bajus made its last cut on October 25. The broader picture is one of a market still working off an extraordinary run higher. Gold crossed $5,500 an ounce in late January and briefly touched $5,600 before sliding back below $4,000 in recent weeks, a reminder that even after October's correction, prices remain far above where they stood a year ago.

What It Means for Bangladeshi Buyers and Savers

For households planning a wedding purchase or topping up savings in gold, the message from this month is that waiting for the "right" price is largely a bet on where New York and London trade, not on anything happening in Dhaka's jewellery markets. Anyone who bought during the October slide picked up gold meaningfully cheaper than at the start of the month, even after Wednesday's bounce. Anyone holding out for a further fall now faces a market that has, at least for a day, turned the other way.

Jewellers who had been quietly restocking during the cuts are likely to see some relief in margins, since inventory bought at October's lower prices can now be sold near the new, higher rate. For retail buyers, the practical takeaway is to compare the posted bhori rate against recent weeks before committing to a large purchase, since a difference of a few thousand taka on a single bhori is common in this market right now. Readers tracking the daily rate can check current figures on BD Financial Review's gold price page.

Where Prices Go From Here

Nothing in Wednesday's Bajus statement suggests the association is trying to call a bottom or a top. Its pricing committee has shown this month that it will move in either direction within days if the international benchmark does, which means another cut or another rise before the weekend is entirely possible. Global gold has been volatile since January's record run, driven by a mix of safe haven demand tied to conflicts in the Middle East, shifting expectations for interest rates in the United States, and bouts of profit taking by large investors. Until that volatility settles, Bangladeshi buyers should expect the bhori rate to keep moving with it, in both directions, rather than settling into a predictable trend.