Record Imports of Silver, Gold and Jewellery in BiH

September 5, 2019 12:00 PM

The citizens of Bosnia and Herzegovina are in great demand for gold, gems and other precious metals in recent years.

This is confirmed by Indirect Taxation Authority (ITA) of BiH that in just seven months this year, more than 13 million BAM worth of items and jewelery were imported into our country.

That is three million BAM more than last year.

In the short interview for Avaz newspapers, goldsmiths confirmed that in recent years more and more citizens have come to them and sold precious metals.

“They often come with gold chains, rings, broken jewelry and sell it. The purchase price depends on the ounces. An eight-carat gram of jewelry costs around 25 BAM, while the most expensive one is 18 carats and costs around 65 BAM. A gram of pure gold, or a leverage of 24 carats, costs about 100 BAM,”  one of jewelers in Sarajevo told Avaz.

Imports have almost doubled in four years, according to BiH Indirect Taxation Authority. Thus, in 2014, imports of gold, silver and jewelry amounted to 6.3 million BAM, and last year it increased to 10 million BAM. In the first seven months of this year, jewelry and precious metal parts were imported in the amount of 8.7 million BAM.

Gold prices have reached their highest level in the last six years, with 1,337 Euros per ounce, the highest since April 2013.

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