The Bangladesh Jeweller's Association (Bajus) has decided to reduce gold prices by Tk1,750 per bhori from Wednesday.
The price cut comes as a result of a decline in the local market value of pure gold, according to a Bajus press release.
According to recent news, the association has reduced gold prices by 1.5% to Tk111,158 a bhori from the previous Tk112,907 a bhori, which was the highest price recorded in the history of Bangladesh.
The price of gold surpassed Tk100,000 for the first time in Bangladesh in July of last year.