Bangladesh Jewellers Association Cuts Gold Prices After One-Day Hike

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

The revised rates came into effect from 10am on Tuesday. The association also reduced prices for other types of gold: 21-carat gold is now priced at Tk 2,10,943 per bhori (down by Tk 2,100), while 18-carat gold has been reduced by Tk 1,750 to Tk 1,81,200 per bhori. Traditional (Sanatan) gold prices were cut by Tk 1,458 to Tk 1,48,016 per bhori.

The organisation stated that the new prices will remain effective at all jewellery establishments until further notice, with making charges varying depending on the design of the ornament. Bajus also clarified that VAT is included in the selling price of gold and silver ornaments, meaning customers cannot be charged VAT separately.