Gold prices in Bangladesh are climbing so fast that they’ve gone beyond the reach of many ordinary buyers. While jewelry sales have dropped significantly, interest in gold as a safe investment has grown, particularly at a time when weaknesses in banks and the financial sector are causing concern among savers. The Bangladesh Jewellers Association (BAJUS) considers gold a reliable investment option, though economists caution that international market trends should be taken into account before making big moves.

Gold has long been valued both as adornment and as a store of wealth. At present, the price of one bhori (11.66g) of top-quality gold is about Tk 185,947—up from Tk 139,443 at the start of this year. That means in just over nine months, the price has risen by more than Tk 46,000. For consumers, the gap between desire and affordability is widening. Many say gold has become “sky high”—no longer something they can casually buy.

Jewelers report that sales have dropped by nearly half. Previously, daily transactions could reach Tk 500,000, but now they hover around Tk 200,000.

Still, rising prices have turned gold into an attractive investment avenue. Old jewelry can be sold for a good profit, making the metal appealing beyond its ornamental use. According to traders, if someone sells high-quality old gold, jewelers typically deduct 17 percent. Even with that, those who bought a bhori of jewelry in January this year would now profit by about Tk 15,000 if they sold it, or around Tk 28,000 if they exchanged it for new ornaments. Over two years, potential profits could range from Tk 56,000 to Tk 69,000 per bhori.

BAJUS spokesperson Anwar Hossain notes that many in the jewelry trade invest in gold for business purposes such as opening showrooms, and while gold is profitable, not everyone can afford to invest at current levels.

Economists agree that in the current climate of industrial slowdown and instability in banking, gold is becoming a safer choice for savings. Economist Dr. Mahfuz Kabir commented that Bangladeshi traders can benefit from short-term gold purchases, which can also help strengthen reserves. He suggested that times of global market volatility can actually provide the best investment opportunities.

Back in 1971, the year Bangladesh gained independence, a bhori of gold cost just Tk 170. Today, the same unit is nearing Tk 200,000—and forecasts suggest the upward trend in global prices may continue.