Gold has always been a highly valued and coveted metal in Bangladesh. People buy gold not just for its aesthetic appeal in jewelry but also as a long-term investment and asset. Gold is part of many traditions and is gifted during weddings, festivals and other auspicious occasions in the country.
The price of gold in Bangladesh frequently fluctuates due to various global and local factors. Some key factors that influence the gold rate are global gold prices, local demand and supply dynamics, economic conditions, strength of the Taka against the US dollar etc. Generally, the gold price trends higher during the wedding seasons and major festivals due to surging demand.
Understanding the current gold price and trends in Bangladesh is important for buyers and investors. This comprehensive guide will provide an overview of the latest gold rates, price influencing factors, how gold price is calculated and trends to expect in the Bangladeshi gold market.
Current Gold Price in Bangladesh
The gold price in Bangladesh sees frequent changes due to global and domestic factors. Here are the latest gold rates according to the Bangladesh Jewelers Association (BAJUS):
| Date | Gold Price in Vori |
|---|---|
| 8 September 2023 | 102,450 BDT |
This rising trend is mostly attributed to high demand during the wedding season, festival bookings and some recovery in global gold rates. However, local prices are still lower than the record highs seen in late 2021.
- 24K = 100% pure gold.
- 22K = 91.7% gold.
- 18K = 75.0% gold.
- 14K = 58.3% gold.
- 12K = 50.0% gold.
- 10K = 41.7% gold.
Live Gold Rate in Bangladesh Today
| GRAMS Bangladesh | Gold Price per Gram | High | Low | Change |
|---|---|---|---|---|
| 1 GRAM GOLD 24K | 6,874 | 6,883.71 | 6,853.42 | 21.39 |
| GRAM 22K | 6,311. | 6,319.25 | 6,291.44 | 19.63 |
| GRAM 21K | 6,015 | 6,023.25 | 5,996.75 | 18.71 |
| GRAM 18K | 5,156 | 5,162.78 | 5,140.07 | 16.04 |
| GRAM 14K | 4,021 | 4,026.97 | 4,009.25 | 12.51 |
| GRAM 10K | 2,866 | 2,870.51 | 2,857.88 | 8.92 |
| GRAM 6K | 1,718 | 1,720.93 | 1,713.36 | 5.35 |
BAJUS Gold Price in Bangladesh
| Product | Description | Price |
|---|---|---|
| 22 KARAT Gold | CADMIUM (HALLMARKED GOLD) | 8,440 BDT/GRAM |
| 21 KARAT Gold | CADMIUM (HALLMARKED GOLD) | 8,055 BDT/GRAM |
| 18 KARAT Gold | CADMIUM (HALLMARKED GOLD) | 6,905 BDT/GRAM |
| TRADITIONAL Gold | CADMIUM (HALLMARKED) | 5,755 BDT/GRAM |
Bangladesh Gold Rate Today Per Gram
| Qty | 22K Gold Rate | 18K Gold Rate | 24K Gold Rate |
|---|---|---|---|
| 10g | BDT 47,740.00 | BDT 39,060.00 | BDT 52,080.11 |
| 8g | BDT 38,192.00 | BDT 31,248.00 | BDT 41,664.09 |
| 4g | BDT 19,096.00 | BDT 15,624.00 | BDT 20,832.04 |
| 2g | BDT 9,548.00 | BDT 7,812.00 | BDT 10,416.02 |
| 1g | BDT 4,774.00 | BDT 3,906.00 | BDT 5,208.01 |
BAJUS Previous Gold Price in Bangladesh
| Date | 22Ct / 1g | 22Ct / 8g | 24Ct / 1g | 24Ct / 10g |
|---|---|---|---|---|
| 02-07-2023, PM | BDT 4,747.82 | BDT 37,982.53 | BDT 5,179.44 | BDT 51,794.36 |
| 02-07-2023, AM | BDT 4,747.82 | BDT 37,982.53 | BDT 5,179.44 | BDT 51,794.36 |
| 01-07-2023, PM | BDT 4,747.82 | BDT 37,982.53 | BDT 5,179.44 | BDT 51,794.36 |
| 01-07-2023, AM | BDT 4,747.82 | BDT 37,982.53 | BDT 5,179.44 | BDT 51,794.36 |
| 30-06-2023, PM | BDT 4,747.82 | BDT 37,982.53 | BDT 5,179.44 | BDT 51,794.36 |
| 30-06-2023, AM | BDT 4,726.22 | BDT 37,809.72 | BDT 5,155.87 | BDT 51,558.71 |
| 29-06-2023, PM | BDT 4,716.41 | BDT 37,731.26 | BDT 5,145.17 | BDT 51,451.72 |
| 29-06-2023, AM | BDT 4,727.46 | BDT 37,819.65 | BDT 5,157.23 | BDT 51,572.25 |
| 28-06-2023, PM | BDT 4,738.26 | BDT 37,906.06 | BDT 5,169.01 | BDT 51,690.08 |
| 28-06-2023, AM | BDT 4,741.86 | BDT 37,934.86 | BDT 5,172.94 | BDT 51,729.35 |
| 27-06-2023, PM | BDT 4,764.33 | BDT 38,114.61 | BDT 5,197.45 | BDT 51,974.47 |
| 27-06-2023, AM | BDT 4,776.87 | BDT 38,214.92 | BDT 5,211.13 | BDT 52,111.26 |
| 26-06-2023, PM | BDT 4,774.26 | BDT 38,194.07 | BDT 5,208.28 | BDT 52,082.82 |
| 26-06-2023, AM | BDT 4,793.25 | BDT 38,346.02 | BDT 5,229.00 | BDT 52,290.02 |
| 25-06-2023, PM | BDT 4,767.18 | BDT 38,137.46 | BDT 5,200.56 | BDT 52,005.62 |
| 25-06-2023, AM | BDT 4,767.18 | BDT 38,137.46 | BDT 5,200.56 | BDT 52,005.62 |
| 24-06-2023, PM | BDT 4,767.18 | BDT 38,137.46 | BDT 5,200.56 | BDT 52,005.62 |
| 24-06-2023, AM | BDT 4,767.18 | BDT 38,137.46 | BDT 5,200.56 | BDT 52,005.62 |
| 23-06-2023, PM | BDT 4,767.18 | BDT 38,137.46 | BDT 5,200.56 | BDT 52,005.62 |
| 23-06-2023, AM | BDT 4,786.80 | BDT 38,294.37 | BDT 5,221.96 | BDT 52,219.60 |
| 22-06-2023, PM | BDT 4,767.18 | BDT 38,137.46 | BDT 5,200.56 | BDT 52,005.62 |
| 22-06-2023, AM | BDT 4,786.80 | BDT 38,294.37 | BDT 5,221.96 | BDT 52,219.60 |
| 21-06-2023, PM | BDT 4,781.09 | BDT 38,248.69 | BDT 5,215.73 | BDT 52,157.30 |
| 21-06-2023, AM | BDT 4,804.92 | BDT 38,439.37 | BDT 5,241.73 | BDT 52,417.32 |
| 20-06-2023, PM | BDT 4,793.00 | BDT 38,344.03 | BDT 5,228.73 | BDT 52,287.31 |
| 20-06-2023, AM | BDT 4,851.10 | BDT 38,808.82 | BDT 5,292.11 | BDT 52,921.12 |
| 19-06-2023, PM | BDT 4,844.40 | BDT 38,755.19 | BDT 5,284.80 | BDT 52,847.98 |
| 19-06-2023, AM | BDT 4,852.34 | BDT 38,818.75 | BDT 5,293.47 | BDT 52,934.66 |
| 18-06-2023, PM | BDT 4,865.75 | BDT 38,926.01 | BDT 5,308.09 | BDT 53,080.92 |
| 18-06-2023, AM | BDT 4,865.75 | BDT 38,926.01 | BDT 5,308.09 | BDT 53,080.92 |
22k Gold Price in Bangladesh (Bengali)
| 22 ক্যারেট | বর্তমান মূল্য |
|---|---|
| প্রতি গ্রামে | 8290 টাকা |
| প্রতি ভরিতে | 96694 টাকা |
| প্রতি আনায় | 6043 টাকা |
| প্রতি রতিতে | 1007 টাকা |
| প্রতি দশ গ্রামে | 82900 টাকা |
| প্রতি 100 গ্রামে | 829000 টাকা |
| প্রতি এক কেজিতে | 8290000 টাকা |
Factors Affecting Gold Price in Bangladesh
There are several factors that drive fluctuations in the gold price in Bangladesh. Here are some of the major influencers:
- Global Gold Rates: International gold prices have a direct impact on domestic gold rates in Bangladesh. When global rates rise due to high demand or production issues, local prices in Bangladesh also increase.
- Local Demand & Supply: Gold demand in Bangladesh is high during wedding seasons and festival periods like Pohela Boishakh and Durga Puja. Higher demand leads to price rise. Supply issues also affect rates.
- Economic Conditions: Strength of the local currency Taka as well as inflation, stock market performance, GDP growth etc affect gold prices in Bangladesh. Strong economic conditions may lower prices.
- Import Duty: The government taxes and duties levied on imported gold impact the domestic rates. Change in import duty changes the landed price of gold.
- USD Exchange Rate: Since global gold prices are denoted in USD, the conversion rate to BDT also determines domestic gold values. Weaker Taka leads to higher local prices.
So factors like wedding season demand, global price changes, government policies and US dollar movement influence the gold rate, making it dynamic.
How Gold Price is Calculated in Bangladesh
In Bangladesh, gold prices are primarily calculated and published by the Bangladesh Jewelers Association (BAJUS). They provide the latest rates per vori for different gold carats.
Some key points on gold price calculation:
- The standard unit for measuring gold is 1 vori which equals 11.664 grams.
- 1 vori is split into 16 annas. 1 ana equals 0.729 grams.
- 1 vori also equals 64.07 rattis. 1 ratti is around 0.182 grams.
- The price per gram is derived from the price per vori.
- Popular quantities like 8g, 10g, 50g, 100g are priced based on the per gram rate.
- 1 ounce of gold equals 31.1034768 grams.
- Gold prices for 1 kg are calculated from the per gram rate.
So in summary, the published vori price is used to calculate the price per gram, ana, ratti, ounce etc for setting gold rates in the retail market. The price fluctuates almost daily following global and domestic cues.
When Does Gold Price Increase in Bangladesh
Gold prices in Bangladesh do not remain static – they fluctuate throughout the year. There are certain periods and events during which gold rates are more likely to rise:
- Early January – A new gold price is announced at the beginning of the year which is usually higher than December rates.
- Wedding Season – During the peak wedding months of November to January, gold demand rises exponentially, leading to price hike.
- Festive Season – Prices surge before festivals like Pohela Boishakh, Durga Puja, Eid when gold gift purchases increase.
- Budget Announcement – Any changes in import duty or taxes on gold in the national budget affects prices.
- Global Price Rise – A significant jump in international gold prices leads to upward price revision locally.
- Weaker Taka – Depreciation in the Taka exchange rate against the dollar results in higher gold prices.
So in summary, wedding and festival season demand, budget policy changes, global price cues and currency movements are major triggers for gold price rise in Bangladesh.
When Does Gold Price Decrease in Bangladesh
While gold prices are inclined to rise more frequently in Bangladesh, there are some factors that can lead to a fall in rates:
- Year End – Prices may dip slightly towards the end of the year as demand reduces after the wedding season.
- Good Monsoon – Bumper harvest and good monsoon boosts rural incomes and gold demand drops, easing prices.
- Strong Economy – Robust economic growth, rising incomes and bullish stock markets reduce gold’s attractiveness as an investment.
- High Gold Supply – Improved supply due to increased imports or monetization of gold by consumers can lower prices.
- Stronger Taka – Appreciation in the Taka exchange rate versus the dollar makes gold cheaper for imports and domestic pricing.
- Low Inflation – With low inflation, gold becomes less attractive as a hedge against rising prices. This reduces demand and subsequently prices.
- Global Price Decline – A steep fall in international gold prices due to market forces leads to downward price revision locally.
So in summary, the end of wedding season, strong economic environment, high supply and other such factors can trigger a fall in the gold rate in Bangladesh periodically.
Buying Gold Jewelry in Bangladesh
Gold jewelry shopping requires careful consideration regarding purity, making charges, weight etc. Here are some tips for buying gold jewelry in Bangladesh:
- Always opt for BIS Hallmarked gold jewelry that has passed purity certification.
- Prefer 22K gold for better value, though 18K and 21K are also common.
- Check for stamps like 22K, 916, 750 etc that denote gold purity.
- Purchase from reputable, trusted jewelers to ensure quality.
- Weigh the gold jewelry yourself before payment using a digital pocket scale.
- Ask for a proper invoice that clearly states gold purity, gross and net weight and making charges.
- Check for return, exchange, buyback policies and warranty certificates if provided.
- Compare designs and making charges across jewelers before booking customized jewelry.
- Pay through digital mode for better documentation. Keep all purchase invoices safely.
- Avoid peak wedding season for big purchases as premiums and making charges are higher.
Following these tips will help buyers avoid issues like under-caratage, overcharging, low purity etc when purchasing gold jewelry in Bangladesh.
Gold Investment in Bangladesh
In addition to gold jewelry, individuals in Bangladesh can also invest in gold through these avenues:
Physical Gold
- Gold Bars – 24K gold bars from certified dealers offer a pure play investment. Available in sizes like 1g, 5g, 10g, 50g, 100g.
- Gold Coins – Coins like Ashoka Gold Coins allow investment in 24K gold in smaller denominations.
- Gold ETFs – Exchange traded funds that hold physical gold on investors’ behalf. Units are listed and traded on stock exchanges.
Paper Gold
- eGold – Digital gold from Hatil allows purchase of 24K gold in denominations as low as 0.001 grams via apps.
- Gold Schemes – Offered by jewelers where gold is purchased via monthly installments. Useful for systematic buying.
- Sovereign Gold Bonds – Government-issued bonds denominated in gold grams. Bonds are redeemed based on gold value at maturity.
- Gold Funds – Mutual funds that invest in gold mining stocks, ETFs and gold derivatives.
So both physical possession and paper-based indirect investment routes are available for gold investors in Bangladesh.
Conclusion
Gold holds special value for Bangladeshis not just for ornamental purposes but also financial security. This makes it important to be aware of the live gold price and trends.
As seen above, the gold rate is determined by demand-supply, global rates, currency movement and other macroeconomic factors. It tends to rise during festivals and wedding seasons due to higher demand. Buying gold jewelry requires care regarding purity, weight and making charges.
Besides physical gold, options like digital gold, ETFs, Sovereign Gold Bonds and gold schemes are also gaining popularity for investment purposes. Keeping abreast of the latest gold news and analysis helps buyers and investors make informed decisions.
To summarize, gold will continue playing a dual role, providing financial security as well as meeting cultural and ceremonial needs in Bangladesh. Checking for hallmarking, invoice details and weighing gold purchases is advisable before completion of any purchase.
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