Gold price drops by Tk2,613 per bhori

Bangla Press Desk: Jewellers have lowered the price of gold by Tk2,613 to Tk2,00,096 per bhori (11.664 grammes) as the price of pure gold has dropped in the local market.

The Standing Committee on Pricing and Price Monitoring of the Bangladesh Jeweller’s Association (BAJUS) made the decision at a meeting held on Thursday.

This fresh cut comes just a day after the association hiked the price of gold by Tk8,900 to Tk2,02,709 per bhori.

The upward revision on 29 October followed four consecutive price cuts of the precious yellow metal since 22 October.

Earlier, jewellers reduced the price of gold to Tk2,08,995 per bhori on 22 October, Tk2,07,957 per bhori on 26 October, Tk2,04,283 a bhori on 27 October, and Tk1,93,809 per bhori on 28 October.

On 20 October, the price of gold reached an all-time high in the country at Tk2,17,382 per bhori.

As per the new decision, the price of 22-carat gold will now be Tk17,155 per gram, and 21-carat Tk16,375 per gram, read a press release signed by the committee chairman, Masudur Rahman.

The price of 18-carat gold has been fixed at Tk14,036 a gram, while that of traditional gold at Tk11,661 per gram.

New tariffs would come into effect on Friday, read the release.

Prices of silver, however, have remained unchanged. 

The price of 22-carat silver is now Tk364 per gram, 21-carat Tk347, 18-carat Tk298, and traditional one is Tk223 per gram.

Buyers will also have to pay an additional 5% VAT set by the government, along with a minimum 6% making charge fixed by BAJUS. The making charge may vary depending on design and quality, the release added. This article was originally published on the Daily Sun.

BP/ZE