Bangladesh Cuts Gold Prices, 22-Carat Gold Falls by Tk 7,109 per Bhori
DHAKA, August 29:
The association also announced lower prices for silver. The revised rates came into effect at 10:00 a.m. on Saturday, August 29.
The new prices were approved at a meeting of BAJUS’s Standing Committee on Pricing and Price Monitoring, following a review of movements in the local bullion and silver markets.
22-carat gold price cut by Tk 7,109
Under the revised pricing structure, the price of 22-carat gold has been set at Tk 240,636 per bhori, down from the previous price of Tk 247,745.
The reduction amounts to Tk 7,109 per bhori.
The new prices per gram are:
22-carat gold: Tk 20,630
21-carat gold: Tk 19,700
18-carat gold: Tk 16,920
Traditional-method gold: Tk 13,820
On a per-bhori basis, the price of 21-carat gold is approximately Tk 229,891, while 18-carat gold will cost around Tk 197,333. Gold sold under the traditional method has been priced at approximately Tk 161,173 per bhori.
One bhori is equivalent to approximately 11.664 grams.
Silver prices also reduced
BAJUS has also lowered silver prices across different grades.
Under the revised rates, silver will cost:
22-carat silver: Tk 455 per gram
21-carat silver: Tk 435 per gram
18-carat silver: Tk 375 per gram
Traditional-method silver: Tk 285 per gram
The previous price of 22-carat silver was Tk 470 per gram, meaning the latest adjustment represents a Tk 15 reduction per gram.
Gold prices have fluctuated several times in August
Gold prices in Bangladesh have undergone several adjustments in August, reflecting changes in the local bullion market.
On August 25, BAJUS had set the price of 22-carat gold at Tk 21,240 per gram, equivalent to Tk 247,745 per bhori.
At that time, 21-carat gold was priced at Tk 20,285 per gram, while 18-carat gold was Tk 17,420 per gram. Gold sold under the traditional method was priced at Tk 14,225 per gram.
The association had also raised gold prices earlier on August 22, underscoring the volatility of the domestic precious-metals market during the final weeks of August.
VAT included in listed price
BAJUS said the announced selling prices already include value-added tax (VAT). Jewellery retailers therefore cannot charge customers an additional VAT amount on top of the listed price.
However, making charges may be added depending on the design, craftsmanship and complexity of individual jewellery items.
The newly announced prices will remain in effect at jewellery shops across Bangladesh until BAJUS issues a further revision.
Market outlook
Gold prices in Bangladesh can change in response to movements in local bullion prices and broader market conditions. The latest reduction is therefore likely to remain closely watched by consumers, jewellery retailers and traders as the domestic precious-metals market enters the final days of August.
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