After five consecutive hikes, the Bangladesh Jewellers Association (BAJUS) has announced a reduction in gold prices in the local market. Prices have been cut by up to Tk 14,600 per bhori, bringing the price of premium-quality gold down to Tk 271,000.
BAJUS said the new prices came into effect from 10:45am on Friday. A day earlier, on Thursday, the price of premium-quality gold had risen to Tk 286,000 per bhori—the highest ever in the country’s history.
In a statement, the association said the decline in the price of refined (pure) gold has impacted the local market as well.
Meanwhile, gold prices have also seen a sharp fall in the international market. According to data from gold and silver price-tracking website GoldPrice.org, the price of gold dropped to $5,200 per ounce in the international market on Friday morning, down from over $5,550 the previous day.
Under the new price list, the price of 22-carat gold in the domestic market has been set at Tk 271,363 per bhori. The price of 21-carat gold is Tk 259,000 per bhori, 18-carat gold Tk 222,024 per bhori, and gold under the traditional method Tk 182,833 per bhori.
Alongside gold, silver prices have also been reduced. According to the revised rates, the price of 22-carat silver is Tk 7,757 per bhori, 21-carat silver Tk 7,407 per bhori, 18-carat silver Tk 6,357 per bhori, and silver under the traditional method Tk 4,782 per bhori.
