[🇧🇩] Jewelry Industry in Bangladesh

[Saif]

Gold prices hit an all-time high in Bangladesh

Gold prices in the country have increased once again, setting a new record. The price of each bhori of 22-carat (11.664 grams) gold has been increased by Tk 1,470, bringing the cost of the precious yellow metal to Tk 151,282. This marks the highest gold price ever recorded in Bangladesh. The new

thefinancialexpress.com.bd

Gold prices hit an all-time high in Bangladesh
FE Online Desk
Published :
Feb 17, 2025 20:42
Updated :
Feb 17, 2025 20:42

Gold prices in the country have increased once again, setting a new record.

The price of each bhori of 22-carat (11.664 grams) gold has been increased by Tk 1,470, bringing the cost of the precious yellow metal to Tk 151,282.

This marks the highest gold price ever recorded in Bangladesh.

The new rates will come into effect on Tuesday.

The Bangladesh Jewellers' Association (BAJUS) announced the price hike in a press release on Monday, attributing the increase to the rising cost of pure gold in the local market.​

 

[Saif]

What it takes to run an online handmade jewellery business as a young entrepreneur

Starting an online handmade jewellery business takes creativity, effort, and persistence.

www.thedailystar.net

What it takes to run an online handmade jewellery business as a young entrepreneur

Photos: Orchid Chakma

Contrary to what many may presume, running an online handmade jewellery business requires consistent effort and commitment. In Bangladesh, the online jewellery scene is thriving with the growing popularity of social media platforms like Facebook and Instagram, where handmade jewellery is being sold and promoted. And behind every well-crafted jewellery page is a story that incorporates courage to begin, a painstaking creative process, survival in a competitive market, and a desire to leave a footprint in the field of online business.

A natural question that propels the curious mind is how the artisans behind these wonderful creations found the inspiration to start their journey. Syeda Tithila Manjur, owner of Layes Fita, says that the initial idea behind the business stemmed from her childhood game of decorating her dolls. She states, "Back in my childhood, I used to make dolls' jewellery from beads, and that is where I got my first inspiration to make handmade jewellery. Since then, I have wanted to work in this field."

Similar to Tithila, Afrin Parvez, owner of the page Little Creations by Afrin, has harboured an interest in this work since her early days, but she could only translate her interest into reality during the COVID-19 lockdown.

It is important to emphasise that for both individuals, starting their journey was not a sudden decision. Rather, it was the realisation of a long-nurtured dream, characterised by passion and a genuine love for the craft, that manifested into reality only when it felt right.

When asked about what made them open their business in a virtual space instead of a physical one, different entrepreneurs had different reasons. For Tithila it was pure coincidence. She shares, "Once I just uploaded some pictures of my work to share with my friends. Surprisingly, I got some orders from those works, and thus I started my journey."

In contrast to Tithila, Afrin felt it was the manageability of the online platforms that made her start her business online instead of in a physical store. She states, "An online page is easy to manage from any place." One thing to observe is that, unlike a physical business, an online business requires comparatively less investment. The flexibility, in terms of time commitment, of the online medium is also note-worthy. These aspects have made the online platform an attractive opportunity for many hesitant entrepreneurs who might have a different primary commitment but want to manage a successful business.

With more and more handmade jewellery shops cropping up on our feeds every day, securing quality materials can make or break an online handmade jewellery business, especially when designs are unique and intricate. Sadia shares, "Sourcing from the right places was quite challenging. Sometimes we source raw materials from abroad through importers and some materials are sourced domestically. Mirpur 1, for example, is a good place for buying wholesale. Using my own design and aesthetic, I transform these materials into jewellery in my unique style."

Mownita Ahmed, owner of the online page Mownita's, relies on accessible resources, choosing art and craft stores for sourcing. This reflects the determination of small-scale entrepreneurs who must maximize what is available to them. Local stores are a simple solution for sourcing raw materials, especially for those who don't have access to large suppliers.

Mownita's journey also highlights the hurdles that come with starting a business with limited resources. "Having little to no money to invest in a business as a student and also having no basic knowledge of art was the real problem for me. I used my pocket money, which was only BDT 10 to 20 at that time, as an investment, bought some raw materials, and instantly started my business with only one hand-painted designer jewellery piece," she shares. For new entrepreneurs like her, starting with minimal capital and learning on the go is often the only option. However, this entrepreneurial spirit of making do with what's available can serve as an inspiration for others who have limited capital and experience but a strong desire to create.

Marketing is an added hurdle that small online businesses face. "Facebook was actually my first platform for marketing. Now, I also work with several local initiative-based organisations for marketing," explains Sadia.

Mownita takes a different approach and relies on customer trust and loyalty. She says, "I think trust can be the biggest marketing strategy nowadays. Every one of my loyal clients market my products." This organic form of marketing shows the importance of small-scale online businesses building genuine relationships with customers, especially in an industry where word-of-mouth can influence sales.

Every creative job is draining due to the pressure of maintaining novelty. Upon being asked how she deals with this challenge, Afrin says she frequently explores different media of art, which allows her to gain new insight. She says, "Working with different media and changing media help me diversify my designs."

Speaking on how to overcome creative challenges and keep moving forward as a new business owner, Mownita shares, "Art needs persistence, not perfection. Use your imagination and authentically express yourself. The right client will love you for your work. It will be difficult in the beginning, but stay resourceful, and eventually, you will have a fulfilling and successful business."​

 

[Saif]

Gold price increases by Tk 2,613 per bhori in Bangladesh

The price of gold in Bangladesh has surged once again, with an increase of Tk 2,613 per bhori. The Bangladesh Jewellers Association (Bajus) has set the new price for 22-carat gold at Tk 153,475 per bhori with effect from Monday. In a statement issued on Sunday, Bajus cited the rising price of pur

thefinancialexpress.com.bd

Gold price increases by Tk 2,613 per bhori in Bangladesh
UNB
Published :
Mar 16, 2025 20:32
Updated :
Mar 16, 2025 20:36

The price of gold in Bangladesh has surged once again, with an increase of Tk 2,613 per bhori.

The Bangladesh Jewellers Association (Bajus) has set the new price for 22-carat gold at Tk 153,475 per bhori with effect from Monday.

In a statement issued on Sunday, Bajus cited the rising price of pure gold in the local market as the reason for the adjustment.

The revised pricing structure will take effect immediately, reflecting the fluctuating global market trends.

According to the notification, the sale price of gold must include a mandatory 5 per cent VAT set by the government, along with a minimum 6 per cent labour charge determined by BAJUS. But the final price may vary depending on the design and quality of the jewellery.

Earlier, on March 8, Bajus had adjusted gold prices downward, reducing the rate by Tk 1,038 per bhori. At that time, the price of 22-carat gold was fixed at Tk 150,862 per bhori.

With this latest revision, the price of gold has been adjusted 14 times so far this year.

Of these adjustments, prices have been increased 10 times, while they have been reduced four times.

Despite the gold price hike, the price of silver in the local market remains unchanged. Currently, 22-carat silver is being sold at Tk 2,578 per bhori in Bangladesh.

The frequent fluctuations in gold prices highlight the volatility of the precious metals market, with local rates closely mirroring international trends.

Industry insiders suggest that further adjustments may be necessary depending on global economic conditions and demand-supply dynamics.​

 

[Saif]

https://thefinancialexpress.com.bd/trade/gold-price-exceeds-global-market-prediction

Bangladesh’s gold price exceeds global market prediction
Published :
Apr 20, 2025 15:28
Updated :
Apr 20, 2025 15:28
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The latest hike in gold prices in Bangladesh has pushed the precious metal’s value beyond levels anticipated from global market trends.

On Sunday, high-quality 22-carat gold was being sold at Tk 167,833 per bhori (11.664 grams), marking the highest price ever recorded in the country, UNB reports.

This follows the most recent price revision, which came into effect today.

Meanwhile, Goldman Sachs has forecast that the global price of gold could reach USD 3,700 per ounce by the end of 2025. One ounce equals 31.1035 grams.

The Bangladesh Jewellers' Association (Bajus) has fixed the 22-carat gold price at Tk 14,389 per gram. Accordingly, the local price of one ounce of gold stands at Tk 447,548.

But, the current spot price for gold in the United States is approximately USD 3,328.30 per ounce, equivalent to around Tk 402,724.

This means gold in Bangladesh is being sold at Tk 44,824 higher than the international market rate.

Bajus had earlier raised the price of gold by Tk 3,033 per bhori last Wednesday.

On Saturday, the association announced a further increase of Tk 2,624 per bhori, effective from Sunday.

As per the new pricing, from Sunday, hallmarked 22-carat gold is being sold at Tk 167,833 per bhori, 21-carat at Tk 160,205 per bhori, and 18-carat at Tk 137,309 per bhori. Besides, the price of traditional method gold has risen to Tk 113,491 per bhori.

Up until Saturday, the prices stood at Tk 165,209 per bhori for 22-carat hallmarked gold, Tk 157,697 for 21-carat, Tk 135,174 for 18-carat, and Tk 111,660 per bhori for traditional gold.

In a press release, Bajus stated that the selling prices of gold and silver must include a 5 percent VAT as mandated by the government, along with a 6 percent minimum wage set by the association.

The wage component may vary based on the jewellery’s design and craftsmanship.​

 

[Bilal9]

The commerce ministry says almost 80 percent of the demand is met through smuggling. Bajus added that gold worth around Tk 73,000 crore is smuggled into the country each year.

And most of it is smuggled right out to India, where the demand is even greater. Comes in via Airline smuggling, goes out via porous land border to India.

 

[Saif]

And most of it is smuggled right out to India, where the demand is even greater. Comes in via Airline smuggling, goes out via porous land border to India.

Ditto

 

[Saif]

Gold price rises by Tk 5,342 per bhori, hits record high

Gold prices have been revised upwards again in the country, with the rate of 22-carat gold rising by Tk 5,342 to Tk 177,888 per bhori (11.664 grams). The new price will take effect from Wednesday, the BAJUS said in a statement. The Earlier on Sunday, BAJUS had set the price of 22-carat gold at Tk

thefinancialexpress.com.bd

Gold price rises by Tk 5,342 per bhori, hits record high
FE ONLINE DESK
Published :
Apr 22, 2025 20:44
Updated :
Apr 22, 2025 20:48

Gold prices have been revised upwards again in the country, with the rate of 22-carat gold rising by Tk 5,342 to Tk 177,888 per bhori (11.664 grams).

The new price will take effect from Wednesday, the BAJUS said in a statement. The

Earlier on Sunday, BAJUS had set the price of 22-carat gold at Tk 172,545 per bhori, effective from Tuesday.​

 

[Saif]

Gold price slashed by Tk 3,570 per bhori

The prices of gold have been revised downward in the country due to a fall in pure gold prices in the local market. Bangladesh Jewellers’ Association (Bajus) on Saturday reduced the price of 22-carat gold by Tk 3,570, fixing the price of the high-quality gold per bhori (11.664 grammes) at Tk

thefinancialexpress.com.bd

Gold price slashed by Tk 3,570 per bhori
FE Online Desk
Published :
May 03, 2025 20:28
Updated :
May 03, 2025 20:32

The prices of gold have been revised downward in the country due to a fall in pure gold prices in the local market.

Bangladesh Jewellers’ Association (Bajus) on Saturday reduced the price of 22-carat gold by Tk 3,570, fixing the price of the high-quality gold per bhori (11.664 grammes) at Tk 168,976.

The new rate would come into effect from Sunday, BAJUS said in a statement.

According to the latest tariff, 21-carat gold will be sold at Tk 161,301 per bhori, 18-carat at Tk 138,253 per bhori and traditional gold at Tk 114,296 per bhori.​