Bajus Gold Price today, each bhori of 22-carat gold will cost Tk 118,798. Various factors play an important role in determining the gold market and its price in Bangladesh. Bangladesh Jewellers Association (Bajus) plays an important role in the process of determining the price of gold. Below are some of the main components of the gold market and pricing method:
1. Global Gold Price
The price of gold largely depends on the global market. The price of gold in major markets such as New York, London and Shanghai is important in determining the price of gold in the international market. If the price of gold increases or decreases in the global market, it is directly reflected in the market of Bangladesh.
2. Local Demand and Supply
Local demand and supply are also important in determining the price of gold in Bangladesh. The demand for gold increases during the wedding season, festivals and other social occasions. If the demand is high, the price increases, and if the demand is low, the price decreases.
3. Exchange rate
The exchange rate of dollar and taka also plays a role in determining the price of gold. If the value of taka decreases against the dollar, the price of gold increases, and if the value of taka increases, the price of gold decreases.
4. Import Duties and Taxes
Gold import duties and taxes also affect the price of gold. The government of Bangladesh fixes the rates of duties and taxes imposed on gold and this directly affects the market price of gold.
5. Bajus’s decision
Bajus analyzes the gold market situation and determines the price of gold by considering various factors. The committee of Bajus holds regular meetings and announces the new price of gold according to the current market situation.
All these factors combine to determine the market and price of Bajus gold. As a result, the price of gold is determined through a specific mechanism that is equally efficient for all parties in the market.
Bajus Gold Price Change Causes and Current Status
Bajus gold exchange rate has been fixed at 10% while 15% will be deducted during the purchase of gold from customers. Price change in the gold market of Bangladesh is a normal process. The price of gold varies based on several factors. Below are the main reasons for gold price changes and the current situation:
Reasons for Gold Price Change
- Global Economic Conditions: Global economic conditions have a direct impact on the price of gold. Economic recessions, epidemics, wars or political instability increase the demand and price of gold in the world market.
- Inflation: When the inflation rate increases, the price of gold also increases. Because gold is considered a kind of safe investment medium. When the value of the currency falls, people are more encouraged to invest in gold.
- Dollar exchange rate: The dollar exchange rate has a big impact on the price of gold. If the value of the dollar increases, the price of gold decreases and when the value of the dollar decreases, the price of gold increases.
- Government policies: When governments change gold import duties, taxes, and policies, it affects the price of gold. In Bangladesh, the price increases or decreases when the duty and tax rate imposed on gold changes.
- Demand and supply in the market: The difference in the demand and supply of gold in the local market also plays a big role in the change in the price of gold. The price increases when the demand for gold increases during festivals, wedding seasons or special occasions.
Current Status of Bajus Gold Market
Bajus Gold price of 21-carat gold has been set at Tk1,11,846 per bhori. At present, the price of gold in the gold market of Bangladesh is somewhat stable, but the influence of the global market still exists. The demand for gold has increased due to the global pandemic and economic slowdown, which has contributed to the increase in prices. In addition, the dollar exchange rate and local market demand are also affecting the current state of gold prices.
Local Demand and Supply
In the current situation, the demand for gold in Bangladesh is somewhat stable. The demand for gold increases during the wedding season and other social events. Therefore, the price of gold is also seen to increase slightly during these periods.
Global impact
If the price of gold increases in the global market, it is also reflected in the market of Bangladesh. If the price of gold increases or decreases in the international market, the price of gold in Bangladesh also changes accordingly.
Exchange Rate
At present, the exchange rate of the dollar is stable, so the price of gold is also stable. However, a major change in the dollar exchange rate will have a direct impact on the price of gold.
All these elements have formed the current state of the gold market and price of Bangladesh. Although the price of gold has changed due to various reasons, Bajus is taking various steps to maintain stability in the market.
History and future forecast of gold price hike
The price of gold has always been an important factor that also has a big impact on the economy and investment. Bajus (Bangladesh Jewellers Association) controls the price of gold and announces changes from time to time. A detailed discussion of the history and future forecast of gold price rise is given below:
History of Gold Price Rise
2000-2010: Gold prices rose sharply during this decade. Due to the global economic slowdown and investors’ interest in gold, the price of gold rose rapidly during this time. Gold prices rose the most during the 2008 financial crisis.
2018–2020: Gold prices remained stable during this period, but occasionally saw major upheavals and declines. Gold prices reached an all-time high in 2011. Although there was a slight decrease later, the price of gold increased again in 2020 due to the Covid-19 epidemic.
Future Forecast
It is somewhat difficult to predict the future price of gold, as it depends on many factors. However, some of the main factors that can affect the future price of gold are mentioned below:
Global Economic Situation: Global events such as economic recession, war, or epidemics can increase the demand and price of gold. Investors may turn to gold for safer investments.
Inflation and Monetary Policy: The rate of increase in inflation and changes in monetary policy of the central bank will have an impact on the price of gold. If there is high inflation, the price of gold may increase.
Dollar exchange rate: The change in the exchange rate of the dollar will have a big impact on the price of gold. If the value of the dollar falls, the price of gold may increase.
Market demand and supply: Changes in the demand and supply of gold in the local and international markets will also affect the price of gold. The price of gold may fall if the supply increases through the discovery of new mines or increased gold production.
Development of technology: The use of new technologies and the increasing popularity of e-gold can also change the gold market.
Overall Analysis
Bajus Gold Price 22-carat gold will cost Tk113,560 per bhori as Tk9,736 per gram. The rise in the price of gold in the future will depend mostly on the global economic situation, inflation and investor sentiment. However, considering the current situation, it can be said that even if the price of gold is stable, sometimes there can be a big change.
Forecast
Analysts predict that the price of gold will remain stable in the next few years but may change based on global economic changes and local market demand. If investors maintain the trend of buying gold as a safe investment, the price of gold may increase. Taking all these factors into account, the future price growth of gold can be predicted, but it will depend entirely on different economic and market conditions.
Demand for Gold in Bangladesh and Impact of Bajus
The role of Bangladesh Jewellers Association (BAJUS) is important in controlling the demand and market of gold in Bangladesh. The various factors that affect the demand and market of gold and the impact of bajus are discussed in detail below:
Demand for Gold in Bangladesh
Gold is a very important element in the culture of Bangladesh. The use of gold jewellery is common at weddings, birthdays, and other social occasions. The demand for buying gold jewellery increases significantly, especially during weddings.
- Festivals and religious occasions: The demand for gold increases during Eid, Puja, and other religious festivals. It is a common practice to give gold jewellery as gifts to family and loved ones during this time.
- Investment: Many people see gold as a safe investment. In times of inflation and economic uncertainty, the price of gold is likely to rise, which motivates investors to buy gold.
- Economic status: People’s financial status and purchasing power play an important role in the demand for gold. When income and savings increase, people are interested in investing in gold.
Effects of Bajus Gold
- Pricing: Bajus regularly determines the price of gold. Bajus announced the new price of gold in line with the international market, which helps maintain the stability of the local market.
- Market Control: Bajus formulates rules and regulations for regulating the gold market and fair competition. This ensures competition among gold traders and protects the interests of buyers.
- Quality control: Bajus plays an important role in ensuring the quality of gold and preventing fraud. Bajus takes various measures to determine and maintain the quality of gold.
- Education and Awareness: Bajus takes various initiatives to raise awareness about the proper use of gold and investment among the people. They help make buyers aware and make the right decisions.
- Participation in policy making: Bajus participates in policy formulation of gold business together with the government. The advice of Bajus plays an important role in determining duties, taxes and other regulations.
Impact of demand
The demand for gold directly affects the market price and supply. If the demand is high, the price goes up and when the demand decreases, the price decreases.
- Market stability: Bajus works to keep the price of gold and the market stable. Bajus takes various measures to maintain stability in the market during price hike.
- Long-term trend: The long-term demand for gold and price increase depend on the activities and policies of Bajus. Bajus takes various initiatives to ensure sustainable development and growth in the gold market.
Overall, bajus plays an important role in regulating the demand and market of gold in Bangladesh. Bajus’s steps and policies to determine the demand and price of gold are helpful in maintaining stability in the market.
