Gold and Silver prices cut further in Bangladesh

The Bangladesh Jewellers Association (BAJUS) has again reduced gold prices in the domestic market. This time, the price has been cut by Tk 1,516 per bhori (11.664 grams), bringing the new price of 22-carat gold to Tk 221,858 per bhori.

The new prices for gold and silver jewelry were set after the prices of pure gold and silver declined in the local market. The revised rates came into effect at 10:00 a.m. on Tuesday (July 28).

According to BAJUS, the new prices were determined following a decision by its Standing Committee on Pricing and Price Monitoring, in response to the decline in the prices of pure gold and silver in the local market.

Under the revised pricing, including VAT, the price of 22-carat hallmarked gold has been fixed at Tk 221,858 per bhori (11.664 grams). The price of 21-carat gold has been set at Tk 211,934 per bhori, while 18-carat gold will cost Tk 181,189 per bhori. Gold produced under the traditional method has been priced at Tk 148,016 per bhori.

For silver, the price of 22-carat hallmarked silver has been set 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 traditional silver is priced at Tk 2,858 per bhori.

BAJUS said the new prices will remain effective at all jewelry stores across the country until further notice. As VAT is already included in the listed prices of gold and silver jewelry, retailers are not allowed to charge customers any additional VAT. However, making charges (labor costs) may be applied separately depending on the design of the jewelry.