Undoubtedly, Pahela Baishakh is an occasion when people like to surprise their loved ones with something special. And what could be more precious than presenting a piece of jewellery?
Purchasing a traditional red and white saree or salwar kameez has become a somewhat tired idea when it comes to wishing someone “Shuvo Nabobarsho” on the first day of the Bangla new year.
Bangladesh has experienced significant economic development over the past three to four decades.
As a result, choosing an expensive gift such as gold ornaments on Pahela Baishakh has become a smart option for many who want to express deep affection and show sincerity in nurturing their relationships.
Furthermore, gold’s future economic value also encourages people to gift jewellery on such occasions.
Continuous price escalation defines its future
Nothing offers better returns than an investment in gold. The yellow metal had a stellar year in 2024, surging over 25% – its best performance in 14 years – and outperforming all major asset classes globally.
Last year, persistent buying by central banks worldwide and strong investor demand offset weaker consumer interest, resulting in gold’s strong performance.
Bangladesh is no exception. Here, gold has long been valued both as a commodity and a symbol of wealth, often passed down through generations as family heirlooms.
Since independence, the country has witnessed a continuous rise in gold prices. According to the Bangladesh Jewellers’ Association (BAJUS), in 1971, the price of one bhori (11.664 grams) of guinea gold was Tk170. After consistent increases, one bhori of 22-carat gold is now sold at Tk1,63,214.
This means the price of gold has increased 959 times in the past 54 years. Available data shows that by 1980, the price had reached Tk3,050 – a 213% increase in nine years.
Glitter with purpose: Weighing emotion and investment in goldIn the following decade, it doubled to Tk6,400, and by 2000, it reached Tk6,800. By 2010, gold became six times more expensive, with the price at Tk36,100 per bhori.
In the next ten years, the price almost doubled again, reaching Tk69,867 in 2020. Within just five more years, it more than doubled again to Tk1,63,214.
This continuous rise in gold prices has only increased its popularity. Gifting gold or jewellery is now not only a sign of affection but also reflects people’s growing awareness about wealth and financial security.
Quazi Nazneen Islam, Director of Amin Jewellers, said that the thought of securing the future often plays on the minds of women in Bangladesh, making gold ornaments a practical investment.
“A sense of insecurity exists among women in our country, as most are not economically independent. Historically, they have seen gold jewellery as their savings. Whether gifted by parents or husbands, gold is a strong support system for them. Women consider gold ornaments as their own assets,” she told the media.
She also noted that the price of gold has been rising steadily and is expected to continue doing so, which makes gold increasingly attractive as an investment.
Why is investing in gold important?
Gold is often regarded as a risk diversifier because it is generally uncorrelated with other assets in an investment portfolio. For instance, when stock markets fall, gold prices may rise. This pattern has held true during past global recessions.
Moreover, gold is highly liquid, meaning investors can easily convert it into cash if needed.
A common reason for investing in gold is the belief that it serves as a hedge against inflation. In general, gold prices tend to rise when the cost of living increases. This is due to gold’s intrinsic value and its limited supply. As such, it tends to retain its value better than paper currency.
The Bangladeshi Taka, like many other currencies, has depreciated against stronger foreign currencies, particularly the US dollar. Gold offers a hedge against this depreciation, as its value is globally recognised and not dependent on the strength of any single currency.
Gold is also considered a "crisis commodity," with its value rising during times of financial or political uncertainty. When geopolitical tensions are high, investors often turn to the yellow metal as a safe haven.
Increasing wealth in emerging economies has led to higher demand for gold and greater interest among investors. With mining volumes generally declining over the past decade, gold prices are expected to remain strong.
Things to consider while purchasing gold
If you’re planning to buy gold, it is essential to do your research beforehand. Before making any investment decision, consider your risk tolerance, investment horizon, and market outlook for the yellow metal.
No matter how you plan to acquire your gold, make sure you purchase from a BAJUS member and a licensed or certified dealer. Just because a shop sells gold does not necessarily mean it is trustworthy. A reputable gold retailer should be known for transparency and reliability.
Joynal Abedin Khokon, proprietor of Rizvy Jewellers, said that Bangladeshi jewellers have earned a strong reputation for maintaining certain standards.
“Still, it’s wise to test gold items. There are testing labs such as Bangla Gold and Dhaka Gold where one can verify the metal,” he told the media.
Always compare the quality of gold at several different jewellery stores before making a purchase.
If you do not wish to store gold at home, consider paying a third-party service, such as a bank or specialised facility. If you choose to keep it at home, ensure it is stored securely.
Pahela Baishakh is more than just a cultural celebration – it is a moment when tradition meets modern financial planning. Gold, with its timeless charm and cultural resonance, becomes an obvious choice for investment.
Whether for heritage, festivity, or financial foresight, the connection between gold and Pahela Baishakh illustrates how emotional and cultural values influence economic behaviour in the Bangalee community.
So, if you’ve made up your mind, seize the occasion to invest in gold by gifting your loved one a finely crafted ornament made from this precious metal.
Courtesy: Daily Sun.
Bd-pratidin English/Tanvir Raihan
