After five consecutive hikes, the Bangladesh Jewellers Association (BAJUS) has announced a sharp cut in gold prices in the local market.
Prices have been reduced by up to Tk14,600 per bhori, bringing the price of standard-quality gold down to Tk271,000.
Just a day earlier, the price had climbed to Tk286,000 per bhori-the highest ever recorded in Bangladesh.
In a notice issued on Friday, BAJUS said the revised prices came into effect from 10:45 am the same day.
According to the association, the reduction follows a fall in the price of tejaabi (pure) gold in the local market.
Under the new rates in the domestic market, the price per bhori now stands at Tk271,363 for 22-carat gold, Tk259,000 for 21-carat, Tk222,024 for 18-carat, and Tk182,833 for traditional-method gold.
Silver prices have also been reduced. The price of 22-carat silver is now Tk7,757 per bhori, while 21-carat silver is priced at Tk7,407, 18-carat at Tk6,357, and traditional-method silver at Tk4,782 per bhori.
bd-pratidin/GR
