Gold prices cut further

Bangladesh Jewelers’ Association (BAJUS) has announces to further reduction of the prices of gold in the local market.

It has reduces highest Tk4023 per bhori including VAT.

The BAJUS has announced that the new price will be effective since Wednesday (2 September) morning 10:00am.

BAJUS said in its press release that the organisation’s price determination and price monitoring related standing committee meeting has decided to reset the prices.

It said that the new gold prices have been set after considering the overall situation, following a decline in the price of refined gold in the local market.

According to the new decision, the price of one bhori (11.664 grams) of 22-carat gold, including VAT, has been fixed at Tk 231,880. Meanwhile, 21-carat gold has been priced at Tk 221,441 per bhori, 18-carat gold at Tk 190,123, and gold sold under the traditional method at Tk 155,306.

In its notice, BAJUS further said that VAT is already included in the fixed selling prices. Therefore, jewellers cannot charge customers VAT separately. However, labour charges will be added depending on the design and craftsmanship of the jewellery.

Besides, BAJUS's existing rules will remain in effect for the exchange or sale and purchase of gold and silver jewellery, excluding VAT, labour charges and the price of stones. The new prices will remain effective at all jewellery shops across the country until further notice.

Earlier, on Monday (August 31), BAJUS last adjusted gold prices. On that day, the association reduced the price of 22-carat gold by Tk 4,723 per bhori and fixed it at Tk 235,904. The price of 21-carat gold was set at Tk 225,640 per bhori, while 18-carat gold was priced at Tk 193,739 and gold under the traditional method at Tk 158,280.