BAJUS Rate Cut Hits Gold Prices in Bangladesh Again

Gold prices in Bangladesh have taken another hit following a rate revision by the Bangladesh Jewellers Association (BAJUS). The revised rates, which took effect on Tuesday at 10:00am, saw the price of 22-carat gold decrease by Tk 2,216 per bhori (11.664 grams) to Tk 220,858.

The updated prices for different types of gold are as follows: 22-carat gold stands at Tk 220,858 (down from Tk 223,074), 21-carat gold is priced at Tk 210,943 (a decrease of Tk 2,100), 18-carat gold costs Tk 181,200 (down by Tk 1,750), and traditional gold sells for Tk 148,016 (a reduction of Tk 1,458).

BAJUS attributed the rate revision to a decline in the domestic price of pure (acid-test) gold. The association had increased gold prices just a day earlier, on July 27.

The revised rates also include VAT, with a Tk 2,500 tax included in the price of each bhori of gold jewelry. As a result, customers will not have to pay VAT separately when purchasing gold jewelry.