Gold price falls by Tk 7,115 per bhori after four hikes

The new prices came into effect at 10am on Saturday, BAJUS said in a notice.

The association said the price of locally sourced Tejabi gold (pure gold) had declined, prompting it to revise gold prices after reviewing the overall market situation.

Under the new rates, one bhori (11.664 grammes) of 22-carat gold will cost Tk 2,40,628, while 21-carat gold will be priced at Tk 2,29,781 per bhori.

The price of 18-carat gold has been fixed at Tk 1,97,355 per bhori, while gold under the traditional system will cost Tk 1,61,196 per bhori.

The revised prices will remain effective at all jewellery shops until further notice, BAJUS said.

However, labour charges will apply depending on the design of jewellery. As VAT is already included in the selling price of gold and silver jewellery, jewellers cannot collect VAT separately from customers.

BAJUS also said its existing rules would remain applicable to jewellery exchange and purchase transactions, excluding specified VAT, labour charges and stone prices.

The latest adjustment came four days after BAJUS raised gold prices by Tk 1,633 per bhori on Aug 25, setting the price of 22-carat gold at Tk 2,47,743 per bhori, including VAT.

So far this year, gold prices have been adjusted 108 times in the domestic market. Prices have been raised 55 times, cut 52 times and adjusted once due to VAT.

Silver prices also cut

Alongside gold, BAJUS has also reduced silver prices by Tk 175 per bhori.

The price of 22-carat silver has been set at Tk 5,307 per bhori, including VAT. The prices of 21-carat and 18-carat silver have been fixed at Tk 5,074 and Tk 4,374 per bhori, respectively.

Silver under the traditional system will cost Tk 3,324 per bhori.

Silver prices have been adjusted 65 times so far this year, with 34 increases and 31 decreases, reports UNB.