Gold price reduced again, new rates effective from Tuesday

The prices of gold and silver have been reduced once again in the country's market. The Bangladesh Jewellers' Association (BAJUS) has set the new prices in line with the international market. The decision was made at an emergency meeting of the BAJUS Standing Committee on Pricing and Price Monitoring at 9:15 am on Tuesday, April 28. The new prices came into effect across the country from 10:00 am on the same day.

According to a BAJUS notification, the price of the highest quality, 22-carat gold, has been set at Tk 20,980 per gram. Accordingly, the price per bhari (11.664 grams) of 22-carat gold stands at Tk 2,44,711. Similarly, the price per bhari of 21-carat gold has been set at Tk 2,33,582 and 18-carat gold at Tk 2,00,211. The price of traditional method gold has been set at Tk 1,63,063 per bhari.

BAJUS has also set new prices for silver. According to the new schedule, the price per bhari of 22-carat silver is Tk 5,482, 21-carat silver is Tk 5,190, and 18-carat silver is Tk 4,491. The price of traditional method silver has been set at Tk 3,383 per bhari.

The jewellers' association has said that gold and silver will be traded in the country's market at these prices until further notice.

The notification also specifically stated that every jeweller must collect the government-fixed 5 per cent VAT from customers and deposit it into the government treasury.

The price adjustment was essential to maintain market balance, said BAJUS Standing Committee Chairman Dr Dewan Aminul Islam Shahin in the signed directive. Those concerned hope that this will revive momentum in the market.