Bangladesh Jewellers Association Lowers Domestic Gold and Silver Prices
Bangladesh Jeweller Association (BAJUS) has announced a reduction in gold and silver prices across the domestic market. The updated rates officially came into effect on Monday morning.
The Bangladesh Jeweller Association, commonly known as BAJUS, has officially announced a reduction in the prices of both gold and silver within the domestic market in Bangladesh. This significant market adjustment involves lowering the price of gold by a maximum of 4,374 Taka, while the price of silver has been decreased by 175 Taka per vhori, according to the latest official market data released on August 31.
Following this downward price revision by the association, the price for the highest quality, most sought-after 22-carat gold has now been newly fixed at 2,36,254 Taka per vhori. This reduction follows trading on Sunday, during which each vhori of gold was bought and sold at a notably higher rate of 2,40,628 Taka in the local market.
In addition to the 22-carat category, the newly restructured pricing schedule outlines reduced rates for various other grades of gold available in the country. Consequently, 21-carat gold has been priced at 2,25,640 Taka per vhori, while 18-carat gold is now set at 1,93,739 Taka per vhori. Furthermore, traditional method gold has been adjusted down to 1,58,280 Taka per vhori.
Alongside the modifications implemented for precious gold, the Bangladesh Jeweller Association has also revised the domestic rates for silver across all corresponding categories. The new price for 22-carat silver has been established at 5,132 Taka per vhori, 21-carat silver is set at 4,957 Taka per vhori, 18-carat silver is marked at 4,257 Taka per vhori, and traditional method silver is priced at 3,208 Taka per vhori.
These comprehensive domestic market changes take place against the backdrop of international market trends, where gold has been recorded at a price of 4,419 US Dollars per ounce according to goldprice.org. Following the formal announcement by BAJUS, all the newly adjusted prices for both gold and silver officially became active and effective on Monday morning at 10:00 AM.
