Jewellers in Bangladesh have cut the price of gold just one day after implementing a hike, highlighting the significant volatility currently gripping the domestic market.
The Bangladesh Jewellers Association (Bajus) announced that the price of gold would be Tk 200,095 per bhori (11.664 grammes).
This new rate is a decrease of Tk 2,613 from the Tk 202,708 per bhori fixed on Wednesday. This marks the fifth consecutive day since October 26 that Bajus has revised gold prices. Bajus stated the reduction was a result of a drop in the rates of pure gold within the local market.
Just recently, on October 20, local gold prices had soared to a historic peak of Tk 217,381 per bhori, driven by a spike in the international market.
Comment
