Prices of gold have been cut to keep it compatible with the international market, where the prices have dropped too.
Bangladesh Jewellers Association (Bajus) in a press release on Monday said the new prices would come into effect from Tuesday.
The prices of 21-carat and 22-carat gold have been reduced by Tk1,283 per bhori (11.66 grams), said the release.
Also, 18-carat and traditional gold prices are set to see Tk933 and Tk1,166 falls, respectively.
From Tuesday, 22-carat gold will be sold at Tk47,939 per bhori, 21-carat at Tk45,723 and and 18-carat gold at Tk40,474 per bhori.
Price of traditional gold will stand at Tk24,786.
Bajus had hiked the gold prices the last three times they were revised in November, September and August this year.
However, traders have said that the price of the silver - Tk1,050 per bhori - will remain unchanged.
The article was first published in the Bangla Tribune