Gold prices fall for second straight day, down Tk 5,482 per bhori

The Bangladesh Jewellers Association (BAJUS) has cut gold prices in the domestic market for the second day in a row. This time the price of one bhori of 22-carat gold has been reduced by Tk 5,482.

The new prices took effect from 10am on Saturday (31 October). BAJUS had also reduced gold prices on Friday (30 October).

The decision was taken on Saturday morning at a meeting of the BAJUS Standing Committee on Pricing and Price Monitoring. A notice said the new rates were set after considering the fall in the prices of pure gold and silver.

Under the new rates, hallmarked 22-carat gold jewellery is priced at Tk 18,655 per gram. On that basis one bhori, or 11.664 grams, costs Tk 217,592.

Gold of 21 carats is priced at Tk 17,815 per gram, or Tk 207,794 per bhori. Gold of 18 carats is Tk 15,300 per gram, or Tk 178,459 per bhori.

Traditional-method gold has been priced at Tk 12,500 per gram, which puts one bhori at Tk 145,800.

Compared with Friday's rates, 22-carat gold was cut by Tk 470 per gram. The 21-carat rate fell by Tk 450 per gram, about Tk 5,249 per bhori. The 18-carat rate fell by Tk 385 per gram, about Tk 4,481 per bhori. Traditional gold fell by Tk 315 per gram.

BAJUS also cut silver prices alongside gold. Hallmarked 22-carat silver is Tk 300 per gram, 21-carat Tk 290, 18-carat Tk 250, and traditional silver Tk 190 per gram.

BAJUS said making charges will apply according to jewellery design. As VAT is included in the set selling price, no separate VAT can be charged to buyers.

When exchanging old jewellery, 12 percent will be deducted from the set price after excluding making charges and stone prices. When buying old jewellery, the deduction will be 18 percent. No separate VAT deduction applies to exchanges or purchases.

Earlier, BAJUS had raised gold prices in two steps on Wednesday (28 October) and Thursday (29 October). On Friday the price of one bhori of 22-carat gold was Tk 223,074, which the new decision brings down to Tk 217,592.

Under the BAJUS decision, the new prices will remain in force at all jewellery shops in the country until further notice.