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Gold prices fall again as 22-carat rate drops to Tk 2.29 lakh per bhori
Image- Collected
Gold prices in Bangladesh have been reduced again, with the Bangladesh Jewellers Association (BAJUS) cutting Tk 1,691 per bhori from the price of 22-carat gold.
Under the revised rates, 22-carat gold now costs Tk 2,29,081 per bhori, including VAT. The new prices came into effect at 10:00 AM on Monday, according to a BAJUS notice.
The association said the reduction followed a decline in the price of pure gold, locally known as Tejabi gold, in the domestic market. BAJUS said it revised the rates after considering the overall market situation.
The price of 21-carat gold has been set at Tk 2,18,817 per bhori, while 18-carat gold now costs Tk 1,87,907. Gold sold under the traditional method is priced at Tk 1,53,498 per bhori. One bhori is equivalent to 11.664 grams.
BAJUS said jewellery buyers will also have to pay making charges based on the design of the item. VAT is already included in the listed prices of gold and silver jewellery, so jewellers cannot charge customers an additional VAT amount.
For jewellery exchange, 12% will be deducted, while 18% will be deducted when purchasing, excluding making charges and the value of stones. BAJUS said no separate VAT deduction will apply to either exchange or purchase transactions.
The latest rates will remain in effect at jewellery shops across the country until further notice.
This is the second reduction in gold prices within a few days. On September 30, BAJUS lowered the price of 22-carat gold by Tk 2,216 per bhori to Tk 2,30,772, including VAT. At the time, 21-carat gold was Tk 2,20,391, 18-carat gold was Tk 1,89,248 and traditional-method gold was Tk 1,54,606 per bhori.
Monday’s revision marks the 121st adjustment in gold prices in Bangladesh this year. Prices have been raised 59 times, reduced 61 times and adjusted once because of VAT.
Silver prices, however, remain unchanged. A bhori of 22-carat silver is selling for Tk 4,316, while 21-carat, 18-carat and traditional-method silver cost Tk 4,141, Tk 3,558 and Tk 2,683 respectively, including VAT.
Silver prices have been revised 73 times this year, with 36 increases and 37 decreases.