Gold prices reduced in local market after consecutive hikes

After two consecutive increases, gold prices have declined in the local market, with the price of 22-carat gold reduced by Tk2,216 per bhori.

The new rate sets the price of one bhori (11.664 grams) of 22-carat gold at Tk242,495.

The information was announced in a statement issued by the Bangladesh Jewellers' Association (BAJUS) on Friday morning. The revised prices came into effect from 10:00am on the same day.

According to the statement, the price adjustment was made following a decline in the price of pure gold in the local market.

Under the new rates, 21-carat gold will cost Tk231,472 per bhori, while 18-carat gold has been fixed at Tk198,405 per bhori. Gold produced under the traditional method will be sold at Tk161,605 per bhori.

Previously, the association had revised gold prices on 7 May, increasing the price of 22-carat gold by Tk2,216 per bhori to Tk244,711.

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At that time, the price of 21-carat gold was set at Tk233,572 per bhori, 18-carat gold at Tk200,213 per bhori, and traditional gold at Tk163,063 per bhori.

Despite the reduction in gold prices, silver prices remain unchanged in the domestic market.

Currently, 22-carat silver is being sold at Tk5,774 per bhori, while 21-carat silver costs Tk5,540 per bhori. The price of 18-carat silver stands at Tk4,724 per bhori, and traditional silver is selling at Tk3,558 per bhori.