Gold price drops by 6,589 taka in two days for 22 carat

Staff Reporter: PNN

The Bangladesh Jewellers Association has once again announced a reduction in gold prices in the domestic market. According to the new decision, the price of 22-carat gold per bhori has been reduced by 4,374 taka, setting the new price at 238,121 taka.

The decision was taken on Saturday morning at a meeting of the Bangladesh Jewellers Association’s Standing Committee on Pricing and Price Monitoring. Later, the new price was announced in a notice signed by committee chairman Dr. Dewan Aminul Islam Shahin. The new rates became effective from 10:00 AM.

BAJUS stated that the price was adjusted due to a decrease in the local market price of pure gold.

Under the new rates, 21-carat gold will be sold at 227,331 taka per bhori. The price of 18-carat gold has been set at 194,847 taka, and traditional gold will be sold at 158,689 taka per bhori.

Earlier, on May 15, gold prices were reduced by 2,215 taka per bhori. As a result, within just two days, the price of 22-carat gold per bhori has dropped by a total of 6,589 taka.

Not only gold, but silver prices have also been reduced by BAJUS. Under the new rates, 22-carat silver will be sold at 5,657 taka per bhori, which is 117 taka lower than before. The price of 21-carat silver has been set at 5,365 taka, 18-carat at 4,607 taka, and traditional silver at 3,441 taka per bhori.

Traders believe that fluctuations in the international market and local demand have led to these changes in prices.