Bangladesh Jeweller Samity Lowers Gold Prices After Three Increases

The Bangladesh Jeweller Samity, known as Bajus, has officially announced a reduction in the prices of gold across the domestic market in Bangladesh. This price adjustment comes after the precious metal had witnessed its rates increase during three consecutive previous adjustments managed by the association.

Following the new decision announced by Bajus, the price of gold has seen a maximum decrease of 7,115 taka per bhori. With this significant reduction applied, the price of high-quality gold has now been adjusted to stand at 2,40,628 taka per bhori across the country.

To provide context on the previous market rates, gold was actively traded at 2,47,743 taka per bhori on Friday, just before the price cut was implemented. Meanwhile, developments in the global market show that gold was priced at 4,455 US dollars per ounce according to goldprice.org.

Looking at the breakdown of the newly updated domestic rates categorized by grades, 22-carat gold is now priced at 2,40,628 taka per bhori. Additionally, the price for 21-carat gold has been set at 2,29,781 taka per bhori, while 18-carat gold is priced at 1,97,355 taka per bhori, and traditional method gold is priced at 1,61,196 taka per bhori.

Alongside the modifications made to gold rates, the official price structure for silver remains categorized across various grades. The price for 22-carat silver is 5,307 taka per bhori, 21-carat silver is 5,074 taka per bhori, 18-carat silver stands at 4,374 taka per bhori, and traditional method silver is priced at 3,324 taka per bhori.

The newly revised pricing schedule officially came into effect for consumers and traders across Bangladesh on Saturday morning at 10:00 AM, following the formal directive issued by the Bangladesh Jeweller Samity.