The Bangladesh Jewellers Association (Bajus) has announced a reduction in gold prices in the local market.
As a result, the price of 22-carat gold has been lowered to Tk254,450 per bhori.
The new prices were fixed at a meeting of the Bajus Standing Committee on Pricing and Price Monitoring at around 9:30am on Friday.
According to the decision, the revised rates came into effect across the country from 10am today.
In a press release, Bajus said the decision to cut gold prices was taken considering both the international and domestic market situation.
Under the new rates,
21-carat gold will be sold at Tk242,902 per bhori, and
18-carat gold at Tk208,202 per bhori.
Meanwhile, silver prices have also been reduced.
According to Bajus,
22-carat silver has been fixed at Tk6,356 per bhori,
21-carat silver at Tk6,065 per bhori, and
18-carat silver at Tk5,190 per bhori.
- Traditional method silver at Tk3,907 per bhori.
The press release also said that a government-mandated 5% VAT must be collected from customers on the sale of gold and silver and deposited to the government treasury.