The price of gold has fallen again in the domestic market, with the Bangladesh Jewellers Association (Bajus) reducing the price of 22-carat gold by Tk1,691 per bhori (11.664 grams).
Under the new rate, 22-carat gold will cost Tk2,32,930 per bhori, including VAT.
The new prices came into effect at 10am on Saturday. Bajus said the decision was made in response to a fall in the price of raw gold, or tejabi gold, in the local market.
The Bajus Standing Committee on Pricing and Price Monitoring set the new gold and silver prices at a meeting at 9am on Saturday. The decision was announced in a notification signed by the committee’s chairman, Dr Dewan Aminul Islam Shahin.
According to the new rates, 22-carat hallmarked gold is priced at Tk19,970 per gram, including VAT. This is equivalent to Tk2,32,930 per bhori. Buyers will have to pay making charges separately.
The price of 21-carat gold has been set at Tk19,075 per gram, while 18-carat gold will cost Tk16,380 per gram. Gold made using traditional methods has been priced at Tk13,380 per gram.
Bajus said making charges will be applied separately depending on the design of the jewellery. However, VAT is included in the fixed selling price and cannot be collected separately from buyers.
Silver prices
Bajus has also set new prices for silver jewellery.
The price of 22-carat silver has been set at Tk415 per gram, 21-carat silver at Tk395, 18-carat silver at Tk340 and traditional-method silver at Tk260 per gram.
According to the notification, specific rates will apply when old jewellery is exchanged or sold.
For exchanges, 12% will be deducted, excluding making charges and the cost of stones. For the sale of old jewellery, 18% will be deducted. VAT cannot be deducted separately in either case.
The new rates will remain in effect at jewellery shops across the country until further notice.
Bajus has adjusted gold prices several times recently in response to fluctuations in the price of tejabi gold.
Domestic gold prices are influenced not only by international market trends but also by local refined gold prices, the dollar exchange rate and other associated costs.