Gold is a precious and long-lasting metal. It is widely used for making jewelry ornaments all across the globe. In Bangladesh, gold jewelry ornaments are in great demand. People here buy gold or jewelry made from gold at different festivals like weddings, Eid, Puja, etc. Many people also intend to buy and store gold for future profit. Hence, it is important to know the Gold Price in Bangladesh Today.
Ever-Changing Gold Price in Bangladesh
How is the Gold Price in Bangladesh Today? The price of gold is not constant. Like any other product, the price of gold changes. The price of gold changes very frequently. That is why it is very important to keep yourself up to date with the ever-changing gold price. Hence, here we are; we aim to keep this article up to date with the latest gold price in Bangladesh. So, make sure to read this article in full.
The price of gold is ever-changing. Generally, it keeps on the rise. There are reasons behind the up and down of the gold price. As there are no gold mines in Bangladesh, the country needs to import gold. For this reason, the price depends on other countries. Moreover, the Jewelry Association in Bangladesh controls the price. The price of gold also depends on International political affairs and the share market as well. As the price changes frequently, it is very essential to check the latest gold price before you purchase gold or jewelry of gold. There are several types of gold depending on its purity. So, the price of gold depends on its type.
We guess you have heard of the word ‘Karat’. Karat indicates the purity of Gold. We can divide gold into several categories based on its purity. Gold can be divided into 24 Karat, 22 Karat, 18 Karat, and 14 Karat based on its purity. 24 Karat gold is also known as 24K gold. Similarly, 22 Karat, 18 Karat, and 14 Karat golds are known as 22K, 18K, and 14K golds.
Certainly, the price of gold depends on its purity. The purer the gold, the higher the price. Before discussing the price, let’s have some more information about golds of different Karats.
24K gold is the purest available in the market. It is well-renowned as pure gold. All the 24 parts of it are pure gold. No other metals are mixed in this type. 24 Karat gold is a brighter yellow than any other type. It is flexible. Because of its flexibility, it is not suitable to make jewelry ornaments. Merchants make bars or coins with this gold. The price of 24K gold is the highest for obvious reasons. 24 Karat gold is 100% pure.
In terms of purity, 22 Karat gold comes in second. This gold is 91.67% pure. It means that 22 Karat gold contains 91.67% pure gold metal. The rest of them are mixed copper and silver. Other metals are used to make the gold heavier and stronger. In other words, 22 parts are made of gold, and the other 2 parts are copper and silver. This type of gold is suitable for making jewelry ornaments. 22 Karat is less expensive than 24 Karat gold. 22 Karat gold is in great demand all across Bangladesh. People choose 22 Karat gold for making ornaments.
18K gold is 75% pure gold, and the rest are copper and silver. This type of gold is mostly used for making heavier ornaments. Many people choose to purchase ornaments made from 18 Karat. It is cheaper. This gold is less bright in color than the 22 Karat and 24 Karat.
There are also 14 Karat, 12 Karat, and 10 Karat golds available in the Bangladeshi market. They are 58.3%, 50%, and 41.7% percent pure, respectively. The purer the gold, the higher the price.
Gold Price in Bangladesh Today 2023
Gold prices in Bangladesh fluctuate now and then. So, we recommend you to come here and check this article to find the latest price before you purchase gold.
People buy and sell gold in the unit “Vori” in Bangladesh. But here we enlist the price of gold in the unit “Gram” as it is Internationally acclaimed. Later, we will convert from Gram to Vori and Aana.
According to BAJUS (Bangladesh Jeweller’s Association), the prices of gold in Bangladesh today (20 July 2023) are as follows.
|Gold Types||Unit||Price (Taka)|
|Traditional Method||Per Gram||5655|
Gold Price in Bangladesh Today (July 2023) in Vori and Aana
In Bangladesh, Gold is sold and bought in the unit of “Vori”. If you learn to calculate from Gram to Vori, you can instantly learn the gold price in Vori.
1 Gram = 0.085763293310463 Vori
So, 1 Vori = 11.66 Gram
1 Vori = 16 Aana = 11.66 Gram
8 Aana = 5.83 Gram
Now, if you learn the price of 1 Gram, you can easily calculate the price of 1 Vori or 8 Aana Gold.
- 22k 1 Vori gold price in Bangladesh is = 98,410 Taka.
- 21k 1 Vori gold price in Bangladesh is = 93,921 Taka.
- 18k 1 Vori gold price in Bangladesh is = 80,512 Taka.
- Traditional Method 1 Vori gold price in Bangladesh = 67,103 Taka.
Let’s take a glimpse of the gold price in Bangladesh Today (20th July 2023) per Vori right below.
|Gold Types||Unit||Price (Taka)|
|22K||Per Vori||98,410 Taka|
|21K||Per Vori||93,921 Taka|
|18K||Per Vori||80,512 Taka|
|Traditional Method||Per Vori||67,103 Taka|
Global Gold Price Today
If you are interested in spot gold prices in the global market, you are at the right place. Global spot gold price is 63.92 USD per Gram today (20 July 2023). Let’s check out the global spot gold price today in different currencies.
|Spot Gold||Per Gram||United States||63.56 USD|
|Spot Gold||Per Gram||Europe||56.78 EUR|
|Spot Gold||Per Gram||Great Britain||47.98 GBP|
|Spot Gold||Per Gram||Canada||83.2 CAD|
|Spot Gold||Per Gram||India||5,976 INR|
|Spot Gold||Per Gram||Australia||63.58 AUD|
Gold Buying Guide in Bangladesh
As you know the latest price of gold, you are probably thinking about buying gold. Buying gold in this country is a difficult task as people of every sector are corrupted. The biggest setback of buying gold is that you cannot judge the purity of it only by looking at it with an ordinary eye. So, you have to trust the Jeweler. So, check out some tips that will make your gold buying task easy-going.
Check Out the Latest Price
Always check out the latest price before you go to purchase gold. Gold price is very fluctuating. It changes frequently. For instance, if you don’t know that the price has fallen, the Jeweler can take advantage of you. The seller can sell at the high price of the previous day. So, we recommend you to check the latest gold price in Bangladesh, always, before you go to purchase. You can bookmark our website and come back anytime to check the updated gold price in Bangladesh.
Member of BAJUS
BAJUS stands for Bangladesh Jeweler’s Association. You must buy gold from a Jewelry Shop that is a member of BAJUS. So, firstly, you have to find a BAJUS certified shop in your area. In such a shop, hopefully, you can buy gold at the latest price.
If you do not find a member shop in your local area, we recommend you not to buy gold from there. A little amount of gold is worth a lot. So, you can be easily deceived. In non-certified shops, the seller can demand a high price. They can lie about the Karat (purity) of the gold. You can be told that the gold is 22k and given an 18k gold. The seller even can give you less gold in weight. On top of that, you can face difficulty in returning the gold if necessary. For this reason, you must go to a certified shop to buy gold. If your local area doesn’t have one, go to a bigger area.
Brand Shops and Big Shops
It is always a good idea to purchase from a brand shop. If you live in a district or division-level city, you can easily find a brand shop that is certified by BAJUS. Brand shops manage their customers with great efficiency. Moreover, they provide jewelry ornaments of wonderful designs. These shops always try to maintain the latest price. They have excellent return policies as well. For their trustworthy service over the years, they have become reputed as a brand.
For buying something that you know little about, like gold, we recommend you to put your trust in well-reputed brand shops. If you cannot find a brand shop in your area, the least you can do is to choose a bigger shop that is BAJUS certified. Bigger shops handle more customers in a single day than smaller shops. So, they tend to be less corrupted.
Old and Trustworthy Shops
There are such shops in every area that everybody knows their name. They are reputed for their service over many many years. People love to purchase gold because they are trustworthy. Yes, these shops are old and trustworthy shops. It is always a wise decision to purchase from these shops. But if you live in a small area like a town or village, you cannot always trust the oldest shop in the area. In that case, we recommend you to purchase from older and trustworthy shops in bigger cities.
The cash memo is very important for buying gold. Make sure you receive and check the cash memo carefully. It can be used as future evidence. In case of any legal inquiry, the cash memo may come in handy. You also need the cash memo for reselling the gold in the same shop. So, keep the cash memo in a safe place. You never know when you need it.
Gold Return Policy
Return policy is very important in the case of buying gold. Most of the people who buy gold in Bangladesh are ordinary people. They buy and make jewelry ornaments of gold. Gold is used for beautification. As gold is a longer-lasting metal, people like to store these ornaments for a time of crisis. In times of financial crisis, gold is very useful for reselling or mortgaging.
So, it is possible in the market of Bangladesh to resell gold at the current price. But if you are not aware of the return policy, you can be deceived easily. So, when you buy gold, you must discuss the return policy with the Jeweler. Most of the well-renowned shops provide 80% value. It means that they will count 80% of your gold with the current value. Some other jewelers try to deal in 50%. So, we recommend you find a good return policy.
When does Gold Price Increase?
The price of gold changes now and then. It generally keeps increasing. There are some reasons behind it. Gold price increases in seasonal time. It means that there are some seasons when the demand for jewelry ornaments is high. Frequent wedding season, Eid, and Puja are the times when the gold price increases. Moreover, International political issues affect the price of gold in the international market.
When does the Gold Price Drop?
Gold price does not drop dramatically. It can drop only a little amount. Gold price drops during a non-seasonal time when there are no big traditional festivals. Again, gold prices can drop during closing months, around January. Sometimes, the price of gold drops when the share market is on the high. Many gold traders invest in the share market and the gold price drops a bit.
Gold is the most used metal for making jewelry ornaments. The price of it changes frequently. You must keep yourself up to date with the latest price. Before purchasing gold, visit our website and check the updated price of gold in Bangladesh, which we update every day. Buy gold from the shop which is a member of BAJUS. Avoid buying gold in seasonal time. Always check the return policies to get a good deal. We recommend you to buy gold from trustworthy shops only.