Photo : Collected
Bangladesh Jeweller’s Association (BAJUS) has cut the prices of gold by Tk 840 to Tk 1,18,797 per bhori due to a reduction in the price of pure gold in the local market.
The Standing Committee on Pricing and Price Monitoring of BAJUS made the price adjustments at a meeting held on Saturday.
The new prices would come into effect in the afternoon (Saturday afternoon), the association said in a press release.
The price of 22-carat gold will now be Tk 10,185 per gram, 21-carat Tk 9,722 per gram, 18-carat Tk 8,333 per gram, and traditional gold Tk 6,708 per gram.
Besides, the price of 22-carat silver is Tk 180 per gram, 21-carat Tk 172 per gram, 18-carat Tk 147 per gram, and traditional silver Tk 110 per gram.
Although Bangladesh does not import a significant quantity of gold, prices are always linked with international fluctuations alongside volatility in the domestic market.
With an annual demand of 20 to 40 tonnes, 80 per cent of the country's demand for gold is met through smuggling.
In August last year, the Bangladesh Bank made it mandatory to keep a 100 per cent margin on letters of credit for gold with a view to discouraging its imports and saving foreign currency.
Messenger/Fameema
