Gold prices in Bangladesh have soared above Tk 209,000 per bhori, or about US $1,717, making it more expensive than in Dubai and India. According to the Bangladesh Jewellers Association (BAJUS), gold in Bangladesh costs roughly US $345 more per bhori than in Dubai and US $172 more than in India. The 22-carat price was slightly reduced this week after a global dip but remains at record highs.
Traders say the surge stems from the absence of formal imports and an opaque pricing process. Most gold enters the country through returning passengers or illegal routes, while much of the supply comes from recycled jewellery. Prices are set daily by the Bangladesh Poddar Association in Dhaka’s Tanti Bazar and adjusted by BAJUS, with multiple mark-ups at wholesale and retail levels.
Economist Khondaker Golam Moazzem of the Centre for Policy Dialogue said the market is weakly linked to global trends and lacks transparency. Analysts warn that inflated prices discourage legitimate trade, reduce consumer trust, and risk expanding the black market. The Bangladesh government should act quickly to formalize gold imports, mandate open price disclosures, and create a regulated trading platform to ensure fair pricing and a healthier market.