Gold Price Drops by Tk.3,266 Just a Day After Massive Hike

Gold prices in Bangladesh have dropped by Tk 3,266 per bhori brings slight relief to buyers just 24 hours after a massive price hike. The new rates took effect at 10:00 am on Friday.

The Bangladesh Jeweller's Association (BAJUS) announced the reduction on Friday morning with attributing the adjustment to a decline in the price of pure gold in the local bullion market.

Following the revision the high-quality 22-carat gold (11.664 grams) is now priced at Tk 2,29,664 per bhori with inclusive of VAT.

According to the newly released BAJUS tariff and other categories have also seen price drops, the 21-carat gold: Tk 2,19,342 per bhori, 18-carat gold: Tk 1,88,374 per bhori and Traditional gold: Tk 1,53,148 per bhori.

This sudden reduction follows a highly volatile week for the domestic gold market. Just a day earlier on Thursday, BAJUS had implemented a steep increase of Tk 9,856 per bhori which had pushed prices to record levels. The quick reversal highlights the ongoing instability in local pure gold supply and pricing.