The Bangladesh Jewellers’ Association (BAJUS) has implemented a significant reduction in gold prices, cutting the rate by Tk7,115 per bhori after four consecutive increases.
According to a notice issued by BAJUS, the revised prices came into effect at 10am on Saturday.
The association explained that a decline in the price of locally sourced Tejabi gold (pure gold) prompted the price revision after a thorough review of the overall market situation.
Under the new pricing structure, one bhori (equivalent to 11.664 grammes) of 22-carat gold will cost Tk2,40,628, while 21-carat gold has been priced at Tk2,29,781 per bhori.
The price of 18-carat gold has been fixed at Tk1,97,355 per bhori, whereas gold under the traditional system will now cost Tk1,61,196 per bhori. BAJUS stated that these revised rates will remain effective across all jewellery outlets until further notice.
The association noted that labour charges will still apply depending on the design of the jewellery. However, as value-added tax (VAT) is already included in the final selling price of gold and silver jewellery, jewellers are not permitted to collect VAT separately from customers.
BAJUS also clarified that its existing regulations will remain applicable to all jewellery exchange and purchase transactions, excluding specified VAT, labour charges, and stone prices.
This latest price cut comes only four days after BAJUS raised gold prices by Tk1,633 per bhori on 25 August, which had pushed the price of 22-carat gold to Tk2,47,743 per bhori, inclusive of VAT.
So far this year, gold prices have been adjusted a total of 108 times in the domestic market, reflecting 55 price increases, 52 cuts, and one revision due to VAT.
Alongside the reduction in gold rates, BAJUS has also cut silver prices by Tk175 per bhori. Under the revised rates, 22-carat silver is now priced at Tk5,307 per bhori, including VAT.
The prices of 21-carat and 18-carat silver have been fixed at Tk5,074 per bhori and Tk4,374 per bhori, respectively.
Silver under the traditional system will cost Tk3,324 per bhori. This year, silver prices have undergone 65 adjustments, comprising 34 increases and 31 decreases.
