The price of gold in Bangladesh has been reduced once again, with the rate of 22-carat gold, the highest quality, falling by Tk4,432 per bhori (11.664 grams).
According to the Bangladesh Jewellers Association (Bajus), the new price of 22-carat gold has been set at Tk218,350 per bhori. The revised rates came into effect from 10am on Thursday.
In a statement, the Bajus Standing Committee on Pricing and Price Monitoring said the latest adjustment was made due to a decline in the price of pure gold in the local market.
The new rates were announced in a notice signed by Dr Dewan Aminul Islam Shaheen, chairman of the committee.
The latest reduction follows a series of price cuts in recent days. On June 2, the price of 22-carat gold was reduced by Tk3,266 per bhori. It was lowered by another Tk5,481 on June 6 and by Tk6,591 on June 10.
As a result, the price of 22-carat gold has fallen by a cumulative Tk19,771 per bhori in four rounds of adjustments.
Under the revised rates, 21-carat gold will be sold at Tk208,436 per bhori, down Tk4,199, while the price of 18-carat gold has been set at Tk178,692 per bhori, a decrease of Tk3,558. Gold produced under the traditional method will now cost Tk145,508 per bhori, down Tk2,916.
Bajus also announced a reduction in silver prices.
The price of 22-carat gold has been fixed at Tk4,841 per bhori, down Tk58. The rate of 21-carat silver has been reduced by Tk59 to Tk4,607 per bhori, while 18-carat silver will now be sold at Tk3,966 per bhori, down Tk58. Silver produced under the traditional method has been priced at Tk2,974 per bhori, reflecting a Tk59 decrease.
According to Bajus, the latest adjustments were made in line with fluctuations in international bullion markets and changes in local pure gold prices.