Gold prices drop further in Bangladesh market

The Bangladesh Jewellers Association (BAJUS) has once again decided to reduce gold prices in the local market. This time, the price has been cut by Tk 2,158 per bhori (11.664 grams). As a result, the new price of 22-carat gold has been set at Tk 219,808 per bhori.

BAJUS announced the revised prices in a statement issued on Tuesday (July 14). The new rates took effect from 10:00 am on Tuesday.

According to BAJUS, the price adjustment was made after the price of pure gold (acid gold) declined in the local market, taking the overall market situation into consideration.

Under the new pricing, including VAT, the price of 22-carat gold has been fixed at Tk 219,808 per bhori (11.664 grams). The price of 21-carat gold has been set at Tk 209,894 per bhori, while 18-carat gold will cost Tk 180,267 per bhori. Gold produced under the traditional method has been priced at Tk 147,316 per bhori.

BAJUS said the revised prices will remain effective at all jewellery stores across the country until further notice. However, making charges will be added depending on the design of the jewellery. The association also clarified that VAT is already included in the selling price of gold and silver ornaments, meaning customers cannot be charged VAT separately.

The association had also reduced gold prices on Monday. At that time, the price of 22-carat gold was lowered by Tk 2,216 per bhori to Tk 221,966.

So far this year, gold prices have been adjusted 91 times in the domestic market. Of these, prices have increased 44 times, decreased 46 times, and VAT has been adjusted once.

Meanwhile, despite the latest reduction in gold prices, silver prices remain unchanged. The current price of 22-carat silver stands at Tk 4,607 per bhori. The price of 21-carat silver is Tk 4,374 per bhori, 18-carat silver is Tk 3,791 per bhori, and silver produced under the traditional method is priced at Tk 2,858 per bhori.