Gold prices drop by Tk 1,050 per bhori in Bangladesh

Gold ornaments

Dhaka, Dec 2 - The price of gold in Bangladesh has been reduced by Tk 1,050 per bhori, according to the Bangladesh Jewellers Association (BAJUS).

In a notification issued on Tuesday, the association set the new price of 22-carat gold at Tk 2,11,095 per bhori after the reduction.

The revised rates will come into effect from Wednesday morning.

BAJUS said the prices were adjusted as the local market rate of pure gold declined, prompting a review of overall pricing.

Under the new tariff, 21-carat gold will cost Tk 2,01,496 per bhori, while 18-carat gold will be priced at Tk 1,72,709 per bhori. Gold under the traditional method will be sold at Tk 1,43,689 per bhori.

In addition to the base price, buyers must pay the government-fixed 5 percent VAT and a minimum 6 percent making charge set by BAJUS.

Making charges may vary depending on design and craftsmanship.

BAJUS last revised gold prices on December 1, when the rate for 22-carat gold was increased by Tk 1,575 to Tk 2,12,145 per bhori.

With the latest adjustment, gold prices have been revised 83 times so far this year — increased 56 times and reduced 27 times, according to BAJUS. - UNB