The Bangladesh Jewellers Association (Bajus) has reduced gold and silver prices in the domestic market, with the revised rates taking effect at 10am on Thursday after raw gold and silver prices fell.
According to a Bajus notification, the price of 22-carat gold has been set at Tk226,400 per bhori, while 22-carat silver will cost Tk4,029 per bhori. The prices include value-added tax (VAT).
The decision was taken at a meeting of the Bajus Standing Committee on Pricing and Price Monitoring on Thursday morning, according to a notification signed by the committee's chairman, Dewan Aminul Islam Shahin.
New gold prices
Under the revised rates, 22-carat gold will cost Tk226,400 per bhori, while 21-carat gold has been priced at Tk216,240. The price of 18-carat gold stands at Tk185,800 per bhori, while traditionally made gold jewellery will cost Tk151,900 per bhori.
New silver prices
The price of 22-carat silver has been set at Tk4,029 per bhori. Meanwhile, 21-carat silver will cost Tk3,853 per bhori, and 18-carat silver Tk3,324 per bhori. Traditionally made silver jewellery has been priced at Tk2,508 per bhori.
Making charges apply separately
Bajus said VAT is included in the stipulated retail prices and cannot be charged separately. However, buyers must pay additional making charges depending on the design of the jewellery.
When exchanging old gold jewellery for new pieces, a 12% deduction applies to the stipulated price, excluding making charges and the cost of stones. For selling old gold, the deduction is 18%. VAT cannot be deducted separately in either case.
The notification said the revised prices would remain in effect at jewellery shops across the country until further notice.