Gold price plunges by Tk10,474 per bhori

Bangla Press Desk: Jewellers have lowered the price of gold by Tk10,474 to Tk1,93,809 per bhori (11.664 gram) 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 Tuesday.

This is the fourth consecutive time the price of gold has fallen since 22 October.

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

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

As per the new decision, the price of 22-carat gold will now be Tk16,616 per gram, and 21-carat Tk15,861 per gram, read a press release signed by the committee chairman, Masudur Rahman.

The price of 18-carat gold has been fixed at Tk13,595 a gram, while that of traditional gold at Tk11,285 per gram.

New tariffs would come into effect on Wednesday, 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