Gold prices in Bangladesh have surged sharply over the past three days, with the price of 22-carat gold reaching Tk226,000 per bhori on Wednesday — the highest level ever recorded in the country.

According to the Bangladesh Jewellers Association (BAJUS), the price hike began on Sunday when the association raised the price of 22-carat gold by Tk1,050 per bhori, setting it at Tk218,117 — then a record high.

Within the next 24 hours, BAJUS further increased the price by Tk3,966 on Monday, pushing gold to a new peak.

The latest hike came late Tuesday night, when the price was raised by another Tk4,199 per bhori, fixing the rate at Tk226,282 — the highest in Bangladesh’s history. The new prices came into effect from Wednesday morning.

BAJUS said the latest adjustment was made due to an increase in the price of pure gold (tejaabi gold) in the local market, adding that the decision was taken after reviewing the overall market situation.

Under the revised rates, the price of 22-carat gold has been set at Tk226,282 per bhori (11.664 grams). The price of 21-carat gold stands at Tk216,017 per bhori, 18-carat gold at Tk185,166 per bhori, while traditional-method gold has been fixed at Tk154,315 per bhori.

In addition to the selling price, buyers will have to pay a mandatory 5 percent government VAT and a minimum 6 percent making charge set by BAJUS. However, the making charge may vary depending on the design and quality of jewellery.

With the latest revision, gold prices have been adjusted 89 times in the domestic market so far this year — increased 62 times and reduced only 27 times.