The prices of gold jewellery fell sharply in Bangladesh on Wednesday as the Bangladesh Jewellers Association (BAJUS) reduced rates across all categories, citing a decline in local bullion prices.
The price of the finest 22-carat gold jewellery, including VAT, was cut by Tk 5,482 per bhori (11.664 grammes) to Tk 2,25,290, effective from 10:00am.
BAJUS said the adjustment was made in line with a fall in the price of tejabi (pure) gold in the local market.
The reduction came just two days after BAJUS raised the price of 22-carat gold jewellery by Tk 4,432 per bhori on June 22, reflecting continued volatility in the domestic bullion market.
Besides 22-carat, the price of 21-carat gold jewellery was reduced by Tk 5,249 per bhori to Tk 2,15,142, while 18-carat gold jewellery fell by Tk 4,490 to Tk 1,84,758 per bhori.
The price of traditional sanatan method gold jewellery was also cut by Tk 3,674 to Tk 1,50,932 per bhori.
Silver prices also saw downward revisions across all categories.
The price of 22-carat silver was reduced by Tk 408 per bhori to Tk 4,841, while 21-carat silver dropped by Tk 409 to Tk 4,607 per bhori.
The price of 18-carat silver fell by Tk 291 to Tk 3,966 and traditional sanatan method silver by Tk 234 to Tk 2,974 per bhori.