Bangladesh Jewellers Association Slashes Gold Prices After Surprise Hike

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

The revised rates came into effect from 10am and will remain in place until further notice. Bajus also reduced the prices of other types of gold, including 21-carat, 18-carat, and traditional (Sanatan) gold. The price of silver was also lowered, with a reduction of Tk 59 for 22-carat silver ornaments.

The association noted that VAT is included in the selling price of gold and silver ornaments, so customers cannot be charged VAT separately. Bajus also stated that its existing rules on making charges, VAT, and stone deductions will remain unchanged for the exchange and purchase of ornaments.