Gold prices have dropped again in the country. The Bangladesh Jewellers Association (BAJUS) cut the price by Tk.723 per bhori, effective from 10 am on Monday.
The decision came from a meeting of BAJUS's Standing Committee on Pricing and Price Monitoring. Committee Chairman Dewan Aminul Islam Shaheen signed the notification confirming the new rates which were set based on current trends in the local bullion market.
Under the revised price list the 22-carat gold now costs Tk 2,35,904 per bhori including VAT. 21-carat gold is priced at Tk.2,25,640 and 18-carat gold at Tk.1,93,739. Traditional (Sanatan) gold prices were also adjusted though exact figures for that category were unclear in the notification.
BAJUS clarified that VAT is already included in the listed prices so jewellers cannot charge customers any additional VAT. However the making charges for jewelry design and craftsmanship will still apply separately.
The association also reiterated its existing rules for exchanging or selling gold and silver jewelry which exclude VAT, making charges and the cost of any stones. The new rates will remain in effect at all jewelry shops nationwide until further notice.
This marks the second price cut in three days. On Saturday, August 29 the BAJUS had already lowered 22-carat gold prices along with rates for 21-carat, 18-carat and traditional gold.
The repeated cuts reflect ongoing volatility in the international and local gold markets with jewellers and buyers advised to check current rates before transactions.
