Gold prices drop in Bangladesh following three consecutive weekly hikes

Gold prices in the domestic market of Bangladesh have officially decreased, marking a notable shift after prices had risen three times over the course of the previous week. This downward adjustment in the cost of precious metals was officially announced and implemented yesterday, Saturday, bringing a temporary relief to consumers and buyers across the country.

The decision to lower the price of gold was finalized and executed by the Bangladesh Jeweller Association, commonly known by its abbreviation Bajus. According to the official announcement made by the organization, this market adjustment was necessary and directly implemented because the price of pure, refined gold, locally known as tezabi gold, has decreased within the local market.

Following the new pricing structure, the most refined and highest quality category of gold available in the country, which is designated as 22-carat gold, has experienced a significant price reduction. Specifically, the price for each vori of 22-carat gold has decreased by seven thousand one hundred and fifteen takas, setting the new price for a vori of 22-carat gold jewelry at two hundred and forty thousand six hundred and twenty-eight takas.

In addition to the top-tier category, prices for other varieties of gold have also been adjusted downward by the Bangladesh Jeweller Association. The price of 21-carat gold has been reduced by six thousand eight hundred and twenty-three takas per vori, bringing the newly established rate for a vori of 21-carat gold jewelry to two hundred and twenty-nine thousand seven hundred and eighty-one takas.

Furthermore, the pricing adjustments extend to 18-carat gold and traditional methods of gold as well. The price of 18-carat gold has been decreased by five thousand eight hundred and thirty-two takas per vori, resulting in a newly designated price of one hundred and ninety-seven thousand three hundred and fifty-five takas per vori. Finally, the price for a vori of traditional method gold jewelry has been lowered by four thousand seven hundred and twenty-four takas, setting its new rate at one hundred and sixty-one thousand one hundred and ninety-six takas.