Gold prices fall for fourth consecutive time in Bangladesh

Gold prices have fallen for the fourth consecutive time in Bangladesh, with the Bangladesh Jewellers Association (BAJUS) cutting the price by Tk 2,158 per bhori. Under the revised rates, the price of 22-carat gold has been set at Tk 219,808 per bhori.

BAJUS announced the new price list in a statement on Friday morning (November 13). The revised rates came into effect across the country at 10am the same day.

According to the statement, the decision to revise gold prices was taken following a decline in the price of pure gold in the local market. The decision was made at a meeting of BAJUS's Standing Committee on Pricing and Price Monitoring. The new rates were subsequently announced in a notice signed by the committee's chairman, Dr Dewan Aminul Islam Shaheen.

Under the revised price structure, 21-carat gold will cost Tk 209,894 per bhori, while 18-carat gold has been set at Tk 180,267. Gold sold under the traditional method will cost Tk 147,316 per bhori.

However, silver prices have remained unchanged despite the reduction in gold prices. A bhori of 22-carat silver is currently priced at Tk 3,499, while 21-carat silver costs Tk 3,383, 18-carat silver Tk 2,916 and traditional-method silver Tk 2,216.

BAJUS said making charges would apply to gold and silver jewellery sales in addition to the fixed prices, depending on the design. It also said value-added tax (VAT) was already included in the selling price and could not be collected separately from customers.