Gold price drops by Tk 1,668 per bhori

After four consecutive hikes, the price of 22-carat gold has decreased by Tk 1,668 per bhori, as announced by the Bangladesh Jewellers Association (BAJUS).

The new rates, set by BAJUS, will come into effect across the country from Wednesday.

In a press release issued on Tuesday night, BAJUS said the price of 22-carat gold per bhori (11.664 grams) has been revised to Tk 1,72,860.

The association said the price adjustment comes in response to a drop in the local market rate of pure (tejaabi) gold, along with an overall assessment of the market situation.

As per the new pricing, the rate for 21-carat gold is now Tk 1,64,999 per bhori, while 18-carat gold stands at Tk 1,41,426 per bhori. Gold made following traditional methods has been priced at Tk 1,17,002 per bhori.

In addition to the base price, a mandatory 5 percent government VAT and a minimum 6 percent making charge set by BAJUS must be added. 

But, the making charge may vary depending on the design and quality of the jewellery.

The last price revision took place on June 14, when BAJUS increased the price of 22-carat gold by Tk 2,192 per bhori, setting it at Tk 1,74,528.

This marks the 39th price adjustment in the first six months of the year, with prices rising on 26 occasions and dropping 13 times, reports UNB.