Gold prices in Bangladesh have fallen after three consecutive hikes also bringing relief to buyers planning purchases for weddings and upcoming festive events.
The Bangladesh Jewellers Association (BAJUS) revised the prices downwards with citing a reduction in the price of pure gold (tejabi gold) in the local market. The updated rates came into effect at 10:00 AM on Friday following a decision by the association’s Standing Committee on Pricing and Price Monitoring.
Under the revised pricing structure, the cost of top-quality 22-carat gold has been set at Tk.2,26,923 per bhori (11.664 grams), including VAT. Prices for other categories have also been reduced proportionally the 22-Carat is Tk.2,26,923 per bhori, the 21-Carat is Tk.2,16,717 per bhori, the 18-Carat is Tk.1,86,099 per bhori and the Traditional Method is Tk.1,53,848 per bhori.
Meanwhile the silver prices remain unchanged across all categories despite the downward adjustment in gold.
Domestic gold rates have experienced significant volatility this year. According to BAJUS the prices have been adjusted 134 times so far with 65 increases, 68 reductions and one VAT adjustment. In comparison the association adjusted prices 93 times in the previous year also raising rates 64 times and reducing them 29 times.
