Gold prices drop Tk6,589 per bhori in two back-to-back cuts in Bangladesh
In a statement issued Saturday (16 May) morning, Bajus announced a reduction of Tk4,374 per bhori for 22-carat gold
Gold prices in Bangladesh fell by Tk6,589 per bhori across two consecutive reductions within a single day, with the Bangladesh Jewellers Association (Bajus) setting the new price of 22-carat gold at Tk2,38,121 per bhori on Saturday (16 May).
In a statement issued Saturday (16 May) morning, Bajus announced a reduction of Tk4,374 per bhori for 22-carat gold.
The day before, on Friday (15 May) morning, the association had already cut prices by Tk 2,215 per bhori, resulting in two successive reductions in under 24 hours.
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Under the new rates, the price of the finest 22-carat gold is Tk2,38,121 per bhori after a cut of Tk4,374. The 21-carat rate was reduced by Tk4,141 to Tk2,27,331 per bhori, while 18-carat gold was lowered by Tk3,558 to Tk1,94,847 per bhori.
The traditional-method gold price was reduced by Tk2,916, now set at Tk1,58,689 per bhori.
Gold prices in Bangladesh have been adjusted 65 times so far this year, with rates raised on 35 occasions and reduced on 30 others.
Along with gold, silver prices were also revised downward. The price of 22-carat silver was cut by Tk117 to Tk5,657 per bhori.
The 21-carat silver rate was reduced by Tk175 to Tk5,365, while 18-carat silver dropped by Tk117 to Tk4,607 per bhori. Traditional-method silver was also lowered by Tk117 to Tk3,441 per bhori.
Silver prices have undergone 39 adjustments this year, with 21 increases and 18 reductions.
The domestic price cuts reflect mounting pressure from the global market. According to the World Gold Council, spot gold prices fell nearly 3% on Saturday (16 May), while silver declined by more than 10%.
Gold has now lost 2.26% of its value over the past 30 days, pointing to a sustained downward trend in international markets.
