Gold price drops by Tk 3,324 per bhori

Gold prices in the domestic markets have retreated after two consecutive hikes, with the Bangladesh Jewellers Association (BAJUS) cutting the price of 22-carat gold by Tk 3,324 per bhori (11.664 grams) following a decline in the domestic price of pure gold.

Under the revised pricing, 22-carat gold jewellery, including VAT, now costs Tk 220,858 per bhori, effective from 10:00am on Friday (July 24), BAJUS said in a statement.

The decision was taken at a meeting of the BAJUS Standing Committee on Pricing and Price Monitoring and later announced in a notice signed by its chairman, Dr Dewan Aminul Islam Shaheen.

The latest revision comes after gold prices surged over the past week. BAJUS raised the price of 22-carat gold by Tk 1,633 per bhori on July 21 and by another Tk 2,741 on July 22, pushing the cumulative increase to Tk 4,374 before Friday's downward adjustment.

Under the new rates, 21-carat gold has been priced at Tk 210,943 per bhori, down Tk 3,150, while 18-carat gold now costs Tk 181,200, reflecting a Tk 2,683 reduction. The price of traditional-method gold has also been lowered by Tk 2,216 to Tk 148,016 per bhori.

BAJUS has simultaneously revised silver prices downward. The price of 22-carat silver has been reduced by Tk 175 to Tk 4,607 per bhori, while 21-carat silver now costs Tk 4,374 after an identical reduction.

Meanwhile, 18-carat silver has been cut by Tk 116 to Tk 3,791 per bhori, and traditional-method silver now stands at Tk 2,858 per bhori, also down Tk 116.

The revised prices will remain effective nationwide until further notice, while jewellery-making charges will continue to be determined separately based on design and craftsmanship.