Bangladesh Gold Prices Plummet After Surprise Hike

The Bangladesh Jewellers Association (Bajus) has reduced gold prices in Bangladesh just a day after increasing them. According to a Bajus notice issued on Tuesday, the rate of 22-carat gold was lowered by Tk 2,216 per bhori, bringing its price to Tk 2,20,858 including VAT.

The revised rates took effect from 10:00am and will remain in effect until further notice. Prices of other categories of gold were also reduced: 21-carat gold fell by Tk 2,100 to Tk 2,10,943 per bhori, while 18-carat gold dropped by Tk 1,750 to Tk 1,81,200 per bhori.

The association clarified that making charges will continue to vary depending on the design of the jewellery and that customers cannot be charged VAT separately, as it is already included in the selling price of gold and silver ornaments. Existing rules regarding making charges, VAT, and stone deductions for the purchase and exchange of jewellery remain unchanged.