DE News Desk :
Gold prices in Bangladesh have been revised downward for the second time in a week, despite minimal movement in the global bullion market.
The Bangladesh Jewellers Association (BAJUS) announced the latest adjustment following a meeting of its Standing Committee on Pricing and Price Monitoring held on Saturday. The revised rates will take effect nationwide from Sunday.
The price reduction comes in response to a decline in acid gold (pure gold) prices in the domestic market, BAJUS said in a press release.
Updated Gold Prices per Bhori (11.664 grams):
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22-carat: Tk170,880
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21-carat: Tk163,029
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18-carat: Tk139,692
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Traditional method: Tk58,233
Updated Silver Prices per Bhori:
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22-carat: Tk2,813
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21-carat: Tk2,684
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18-carat: Tk2,297
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Traditional method: Tk1,726
Earlier on May 8, BAJUS had cut the price of 22-carat hallmark gold by Tk3,137 per bhori, setting it at Tk171,811. Just two days later, the rate has been further reduced by Tk931 to Tk170,880.
BAJUS stated that the revised pricing reflects a combination of factors including local supply and demand, import costs, and fluctuations in the US dollar exchange rate, in addition to monitoring international market trends.
The association also reminded consumers that a 5% government-mandated value-added tax (VAT) and a minimum 6% making charge will be added to the base price. The final cost may vary based on design complexity and craftsmanship.
The new pricing structure was confirmed in a statement signed by Masudur Rahman, Chairman of the BAJUS Standing Committee on Pricing and Price Monitoring.