The Bangladesh Jewellers Association (Bajus) has reduced gold prices again, with the price of 22-carat gold falling by Tk185 per gram.
Under the new rates, 22-carat hallmarked gold will cost Tk19,785 per gram, including VAT.
The new prices came into effect at 10am on Monday, following another reduction announced by Bajus on Saturday.
The Bajus Standing Committee on Pricing and Price Monitoring set the new rates at a meeting at 9am on Monday. The decision was announced in a notification signed by the committee’s chairman, Dr Dewan Aminul Islam Shahin.
The price of one bhori (11.664 grams) of 22-carat gold now stands at approximately Tk230,770, including VAT. Making charges will be added separately depending on the design of the jewellery.
The price of 21-carat gold has been set at Tk18,895 per gram, while 18-carat gold will cost Tk16,225 per gram. Gold sold under the traditional method has been priced at Tk13,225 per gram.
On September 26, the price of 22-carat gold stood at Tk19,970 per gram, including VAT. The price per bhori was reduced by Tk1,691 that day.
With Monday’s reduction, the price of 22-carat gold has fallen by approximately Tk2,159 per bhori over two days.
Silver Prices Also Reduced
Bajus has also reduced the prices of silver jewellery.
Under the new rates, 22-carat silver will cost Tk385 per gram, 21-carat silver Tk370, 18-carat silver Tk320 and traditional-method silver Tk240 per gram.
The price of 22-carat silver was Tk415 per gram on September 26, meaning it has fallen by Tk30 per gram in two days.
VAT and making charges
Bajus said making charges will be applicable separately based on the design of the jewellery.
However, as VAT is already included in the fixed selling price, it cannot be charged separately from customers.
For exchanges involving old gold jewellery, 12% will be deducted from the gold price, excluding making charges and the cost of stones. For purchases of old jewellery, the deduction will be 18%.
VAT cannot be deducted separately in either exchange or purchase transactions, according to Bajus.
The new rates will remain in effect at jewellery shops across the country until further notice.
Bajus said the decision was taken after reviewing the overall market situation, including a decline in the prices of raw gold and silver.
