Gold price cut for the fourth straight time: down Tk 3,324 per bhori, effective from today
The Bangladesh Jewellers Association (BAJUS) has announced a cut in gold prices in the domestic market for the fourth consecutive time. Under the new decision, the price of 22-carat gold per bhori, including VAT, has fallen by Tk 3,324 — welcome relief for buyers.
BAJUS announced the decision in a statement on Sunday (October 25). The new prices took effect from 10am today, meaning gold can now be bought at the revised rates at jewellery shops across the country.
According to the statement, the new prices were decided at a 9am meeting today of the BAJUS standing committee on price fixing and price monitoring. The revised rates were put into effect within an hour of that decision.
Under the new price list, 22-carat gold has been priced at Tk 220,858 per bhori (11.664 grams), including VAT. Only yesterday, Saturday, the price stood at Tk 224,182 — a fall of Tk 3,324 per bhori in a single day.
Not only 22-carat gold, prices of the other carats have also been reset. Gold of 21 carats has been priced at Tk 210,943 per bhori.
The price of 18-carat gold has been set at Tk 181,200 per bhori, while traditional-method gold has been priced at Tk 148,016 per bhori.
While gold has become cheaper, silver prices have been kept unchanged. According to BAJUS, 22-carat silver remains at Tk 3,849 per bhori.
In addition, 21-carat silver is priced at Tk 3,673 per bhori, 18-carat silver at Tk 3,149 per bhori, and traditional-method silver at Tk 2,391 per bhori — all at their previous rates.
Four consecutive cuts have created a comparatively favourable situation for buyers in the gold market. For those who had been planning to buy jewellery, this continuing fall is being seen as an opportunity to purchase.
The BAJUS standing committee meets regularly to fix gold prices and decides on increases or decreases according to market conditions. Today's decision is part of that regular process.
Buyers and sellers alike will now watch for the next decision — whether this downward trend continues further or the market turns the other way will be known from the next BAJUS announcement.
