Gold prices have fallen again in Bangladesh, with the price of 22-carat gold reduced by Tk 4,374 per bhori to Tk 231,880, according to the Bangladesh Jewellers Association (BAJUS).
BAJUS announced the new prices for gold and silver on Wednesday, September 2, citing a decline in the prices of refined gold and silver and the overall market situation. The revised prices took effect at 10am on Wednesday.
Under the latest BAJUS decision, the price of 22-carat gold is Tk 19,880 per gram, including VAT. Since one bhori equals 11.664 grams, the price per bhori stands at Tk 231,880.
The new prices are:
Gold purity Price per gram Price per bhori 22-carat Tk 19,880 Tk 231,880 21-carat Tk 18,985 Tk 221,441 18-carat Tk 16,300 Tk 190,123 Traditional method Tk 13,315 Tk 155,306
Gold prices cut twice within days
The latest reduction comes just two days after BAJUS cut the price of 22-carat gold by Tk 4,374 per bhori on August 31, setting the price at Tk 236,254, including VAT.
Before that, on August 29, the association had reduced the price of 22-carat gold by another Tk 7,115 per bhori.
As a result, gold prices in Bangladesh have declined in several rounds within just a few days.
BAJUS has also lowered silver prices.
Under the latest rates, the price of silver is:
VAT and making charges
BAJUS said making charges will apply depending on the design of the jewellery. However, because VAT is already included in the selling price, jewellers cannot collect VAT separately from customers.
For jewellery exchanges and purchases, the previous BAJUS rules will remain in effect after deducting the applicable VAT, making charges and the value of stones.
The latest prices will remain effective at jewellery shops across Bangladesh until BAJUS announces a further revision.
