The Bangladesh Jewellers’ Association (BAJUS) has reduced gold prices in the domestic market by a large margin, lowering the rate for 22-carat gold by Tk2,158 to Tk231,880 per bhori.
The decision was taken unanimously during a meeting of the BAJUS Standing Committee on Pricing and Price Monitoring on Friday morning, with the new rates coming into effect from 10am.
BAJUS stated that the price recalculation was made considering the overall market situation following a drop in the price of pure gold (tejabi gold) in the local market.
According to the revised pricing schedule, 22-carat gold is now fixed at Tk231,880 per bhori. In addition, 21-carat gold has been set at Tk221,441 per bhori, 18-carat gold at Tk190,123 per bhori, and gold produced through traditional methods at Tk155,306 per bhori.
BAJUS had last adjusted gold prices on 9 September, when 22-carat gold was set at Tk234,038 per bhori. On that day, 21-carat gold was fixed at Tk223,541 per bhori, 18-carat gold at Tk191,931 per bhori, and traditional method gold at Tk156,822 per bhori.
In a press release, BAJUS announced that making charges will apply according to jewellery design. As Value Added Tax (VAT) is included in the selling price, retailers are strictly prohibited from collecting VAT separately from customers.
After excluding making charges and stones, a 12 per cent deduction will apply when exchanging jewellery, while an 18 per cent deduction will be made for direct purchases. Separate VAT cannot be deducted during exchange or purchase transactions.
BAJUS added that these new selling prices will remain effective across all jewellery establishments in the country until further notice.
