Gold price drops in Bangladesh after consecutive hikes
After raising the price in three consecutive adjustments, the Bangladesh Jewellers Association (BAJUS) has finally reduced the gold price in the domestic market.
In a press release issued on Saturday night, BAJUS announced that the price of 22-carat gold has been cut by Tk1,890 per bhori (11.664 grams), fixing it at Tk192,969.
The new rates will come into effect from Sunday.
Keep updated, follow The Business Standard's Google news channel
BAJUS said the price of pure gold (tejabi) has fallen in the local market, prompting the latest adjustment.
As per the new rates, the price of 21-carat gold has been set at Tk184,198 per bhori, 18-carat at Tk157,884, and traditional gold at Tk131,045 per bhori.
In addition to the selling price, buyers will have to pay 5% VAT as per government rules and a minimum 6% making charge set by BAJUS.
The making charge may vary depending on jewelry design and quality.
Earlier, on September 23, BAJUS last revised gold prices, raising the 22-carat rate by Tk3,663 per bhori to Tk194,859 — the highest ever in the country's market until now.
