Dhaka: Bangladesh Jewellers Association (BAJUS) has cut gold prices by Tk 7,115 per bhori after four consecutive increases, setting the price of 22-carat gold at Tk 2,40,628 per bhori including VAT. The new prices came into effect at 10am on Saturday, BAJUS said in a notice. The association noted the decline in the price of locally sourced Tejabi gold (pure gold) as the reason for the revision, following a comprehensive review of the overall market situation.
According to United News of Bangladesh, under the new rates, one bhori (11.664 grammes) of 22-carat gold will cost Tk 2,40,628, while 21-carat gold will be priced at Tk 2,29,781 per bhori. The price of 18-carat gold has been fixed at Tk 1,97,355 per bhori, and gold under the traditional system will cost Tk 1,61,196 per bhori. These revised prices will remain effective at all jewellery shops until further notice, BAJUS stated. However, customers should note that labour charges will vary depending on the design of the jewellery, as VAT is already included in the selling price of gold and silver jewellery. Consequently, jewellers are prohibited from collecting VAT separately from customers.
BAJUS also confirmed that its existing rules would remain applicable to jewellery exchange and purchase transactions, excluding specified VAT, labour charges, and stone prices. This latest adjustment comes just four days after BAJUS raised gold prices by Tk 1,633 per bhori on August 25, setting the price of 22-carat gold at Tk 2,47,743 per bhori, including VAT. In the domestic market, gold prices have been adjusted 108 times this year, with 55 increases, 52 cuts, and one adjustment due to VAT.
In addition to gold, BAJUS has also reduced silver prices by Tk 175 per bhori. The price of 22-carat silver is now set at Tk 5,307 per bhori, including VAT, while the prices of 21-carat and 18-carat silver have been fixed at Tk 5,074 and Tk 4,374 per bhori, respectively. Silver under the traditional system will cost Tk 3,324 per bhori. Silver prices have been adjusted 65 times this year, with 34 increases and 31 decreases.