The Bangladesh Jewellers Association (Bajus) has reduced gold prices again, citing a decline in the price of pure gold in the local market.
The revised prices came into effect nationwide at 12:15pm on Monday following a decision by the Bajus Standing Committee on Pricing and Price Monitoring.
Under the new rates, the price of 22-carat hallmark gold jewellery, including VAT, has been set at Tk19,315 per gram, bringing the price of one bhori (11.664 grams) to Tk225,275.
The new price marks a decrease of Tk3,281 per bhori from the previous rate of Tk228,556, which had been effective since July 3.
Bajus also fixed the price of 21-carat gold at Tk18,445 per gram, 18-carat gold at Tk15,840 per gram, and traditional-method gold at Tk12,940 per gram.
The association said the latest adjustment was made after the price of pure gold declined in the local market.
Silver jewellery prices have also been reduced.
Under the revised rates, 22-carat silver jewellery will be sold at Tk420 per gram, 21-carat at Tk400 per gram, 18-carat at Tk345 per gram, and traditional-method silver at Tk260 per gram.
Bajus said making charges would continue to vary depending on the design of the jewellery. As VAT is already included in the retail price, jewellers are not allowed to charge customers any additional VAT.
The association added that its existing policies on the exchange and purchase of gold and silver jewellery would remain unchanged.
So far this year, Bajus has adjusted gold prices 87 times. Of those, prices were increased 43 times, reduced 43 times, while one adjustment was made to VAT.
The association regularly revises gold prices in line with international market trends, local raw material costs and overall market conditions.