The Bangladesh Jewellers Association (BAJUS) has lowered gold prices in the domestic market. With the price of unrefined (tezabi) gold falling in the local market, the organization has set new prices for all types of gold, including 22-karat. Silver prices have also been lowered.
The new prices took effect from 10 a.m. Saturday, August 29. Under BAJUS’s decision, the price of 22-karat gold per bhori now stands at 240,636 taka, down from the previous price of 247,745 taka — a decrease of 7,109 taka per bhori.
The new gold and silver prices were set at a meeting of BAJUS’s Standing Committee on Pricing and Price Monitoring on Saturday morning. The decision was made in light of falling prices for unrefined gold and silver.
New gold prices
Under the new decision, the price of 22-karat gold per gram has been set at 20,630 taka. Twenty-one-karat gold is priced at 19,700 taka per gram, and 18-karat at 16,920 taka per gram.
Additionally, the price of traditional-method gold has been set at 13,820 taka per gram.
By bhori, 21-karat gold will cost roughly 229,891 taka. Eighteen-karat gold will cost 197,333 taka, and traditional-method gold roughly 161,173 taka.
Silver prices also down
Alongside gold, BAJUS has also lowered silver prices. Under the new prices, 22-karat silver is priced at 455 taka per gram, 21-karat at 435 taka, 18-karat at 375 taka, and traditional-method silver at 285 taka.
Previously, 22-karat silver was priced at 470 taka per gram. As a result, the price has fallen by 15 taka per gram this time.
What was the previous gold price?
BAJUS had most recently set the price of 22-karat gold at 21,240 taka per gram last Tuesday, August 25. By that measure, the price per bhori was 247,745 taka. At the same time, 21-karat gold sold at 20,285 taka per gram, 18-karat at 17,420 taka, and traditional-method gold at 14,225 taka.
BAJUS had also raised gold prices on August 22. As a result, after several rounds of price increases and decreases in the last week of August, gold prices have now seen a significant drop.
BAJUS said VAT is included in the set selling price, so VAT cannot be charged separately from customers. However, a making charge will be added based on the design of the jewelry.
The new prices will remain in effect at all jewelry establishments across the country until further notice.