After eight consecutive price hikes, the Bangladesh Jewellers’ Association (Bajus) has decided to reduce gold prices in the domestic market.
In a press release issued on Wednesday night, Bajus announced that the price of 22-carat gold has been reduced by Tk8,386 per bhori (11.664 grams), bringing it down to Tk208,996.
The new prices will take effect from Thursday.
According to the release, the decision was made considering the overall situation following a decline in the price of pure gold in the local market. The new rates are as follows:
22-carat: Tk208,996 per bhori
21-carat: Tk199,501 per bhori
18-carat: Tk170,994 per bhori
Traditional method: Tk142,219 per bhori
The statement also noted that a 5% government VAT and a minimum 6% making charge set by Bajus must be added to the selling price, although the making charge may vary depending on the design and quality of the jewelry.
The last price adjustment was made on October 19, when the price of 22-carat gold rose by Tk1,050 to Tk216,382 per bhori. So far this year, Bajus has revised gold prices 67 times — increasing them 48 times and reducing them only 19 times.
Silver prices have also been reduced this time.
The price of 22-carat silver has been cut by Tk735 per bhori, now set at Tk5,470. Other categories are as follows:
21-carat: Tk5,214 per bhori
18-carat: Tk4,467 per bhori
Traditional method: Tk3,359 per bhori
