Gold prices cut by Tk 2,215 per bhori

The price of gold in the local market has been reduced, with the rate of 22-carat gold — considered the best quality — lowered by Tk 2,215 per bhori (11.664 grams). Following the adjustment, the new price of one bhori of 22-carat gold has been fixed at Tk 242,495.

The new rates came into effect from 10:00 am on Friday, according to the Bangladesh Jewellers’ Association (BAJUS).

BAJUS said the decision was taken in line with a decline in the price of pure gold in the local market, as per local media reports.

The decision to revise the prices downward was made at a meeting of the BAJUS Standing Committee on Pricing and Price Monitoring on Friday morning. The information was later disclosed in a press release signed by the committee’s chairman, Dr Dewan Aminul Islam Shaheen.

Earlier, on May 7, BAJUS had increased the price of 22-carat gold by the same amount — Tk 2,215 per bhori. Eight days after that hike, the association has now reduced prices by an identical margin.

Under the new pricing structure, the price of 21-carat gold has been reduced by Tk 2,100 to Tk 231,472 per bhori.

The price of 18-carat gold has been cut by Tk 1,808 to Tk 198,405 per bhori, while the price of traditional-method gold has been reduced by Tk 1,458 to Tk 161,605 per bhori.

Before the latest revision, 22-carat gold was being sold at Tk 244,710 per bhori, 21-carat gold at Tk 233,572, 18-carat gold at Tk 200,213, and traditional-method gold at Tk 163,063 per bhori.

Meanwhile, silver prices remain unchanged. The price of 22-carat silver has been fixed at Tk 5,774 per bhori, while 21-carat silver is priced at Tk 5,540.

In addition, 18-carat silver is being sold at Tk 4,724 per bhori and traditional-method silver at Tk 3,558 per bhori.