Gold prices cut by Tk3,325 per bhori

Gold prices have fallen sharply in the local market, with the Bangladesh Jewellers Association (BAJUS) announcing a Tk 3,325 reduction per bhori across key categories, citing a decline in the price of pure gold in the domestic market.

According to a BAJUS statement issued on Thursday (July 9), the revised rates took effect from 10:00am.

Under the new pricing, the cost of 22-carat gold has been fixed at Tk221,965 per bhori (11.664 grams), including VAT, down from the previous rate.

The revised prices set by BAJUS place 22-carat gold at Tk221,965 per bhori (11.664 grams), 21-carat gold at Tk211,923 per bhori, 18-carat gold at Tk182,075 per bhori, while traditional gold has been priced at Tk148,774 per bhori, with all rates inclusive of VAT.

BAJUS said the latest adjustment follows a decline in the price of acid gold (pure gold) in the local market, prompting the association to revise retail prices after reviewing prevailing market conditions.

The latest cut comes just three days after another downward adjustment. On July 6, BAJUS reduced the price of 22-carat gold by Tk3,266 per bhori, setting it at Tk225,290.

With the latest revision, gold prices have been adjusted 88 times in Bangladesh so far this year. Of those, prices were increased 43 times, reduced 44 times, while one adjustment was made due to VAT changes.