The price of gold has increased one day after the announcement of the proposed budget for the 2019-20 fiscal year.
The gold trader's association, Bangladesh Jewellery Samity (Bajus), stated that the new rates will be effective from Friday, according to a press release issued on Thursday (Jun 13).
Prior to this, on Jan 29, Bajus increased the price of gold by a maximum rate of Tk 1,166 per bhori (1 bhori=11.664 gram).
Therefore, the price of 22-carat gold per gram was set at Tk 4,400 from Friday (Jun 14), which means the price of 22-carat gold per bhori will cost Tk 52,321.
However, on Thursday, the price of 22-carat gold per gram was Tk 4,100; thus costing Tk 50,155 per bhori.
Bajus General Secretary Dilip Kumar Agarwal said the price of gold has spiraled as gold rates on the international market have increased – significantly impacting the country's market.
According to the latest gold price, rates of 22-, 21-, and 18-carat gold have escalated by a rate of approximately Tk 1,666 per bhori each. However, the rates of traditional method and silver per gram have remained unchanged.


However, the price of 23-carat platinum has been set at Tk 64,152 per bhori.
Gold price in budget FY2019-20
Although the gold price has been increased by Bajus, the government has proposed to reduce the specific duty on the import of gold; to facilitate the situation for travelers bringing in gold bars, and jewelry through appropriate channels.
According to the budget speech for the 2019-20 fiscal year, a passenger will be able to bring 11.664 gm—one Bhori, or tola—of gold; after paying duty charges proposed at Tk 2,000 from existing Tk 3,000 for both unwrought, and semi-manufactured gold.
Additionally, to import gold bars—up to 234gm—the proposed budget reads that the price should drop from Tk 3,000 to Tk 2,000.