Gold price drops in the domestic market

The Bangladesh Jewelers Association (BAJUS) has decided to reduce the price of gold in the domestic market. This time, the organization has reduced the price of a 22-carat gold bhori by Tk 2,613 and set the price of a 22-carat gold bhori at Tk 2,096.

BAJUS announced this information in a notification on Thursday (October 30) night. The new price will be effective from Friday (October 31).

The notification said that the price of acid gold (pure gold) has decreased in the local market. As a result, the new price of gold has been set considering the overall situation.

According to the new price, the price of 22-carat gold per bhori (11.664 grams) in the domestic market will be Tk 2,096. In addition, the price of 21-carat gold per bhori has been set at Tk 1,90,998, 18-carat gold per bhori at Tk 1,63,716 and 136,014 per bhori of traditional gold.

Meanwhile, in the notification, Bajus further stated that the government-determined 5 percent VAT and Bajus-determined minimum wage of 6 percent must be added to the selling price of gold. However, the wage may vary depending on the design and quality of the jewelry.
Earlier, Bajus last adjusted the price of gold in the domestic market on October 29. On that day, the organization increased the price of a 22-carat gold bhori by Tk 8,900 and set the price of a 22-carat gold bhori at Tk 2,2709.

In addition, the price of gold per 21-carat bhori was set at Tk 1,93,506, per 18-carat bhori at Tk 1,65,862 and per 137,845 in the traditional method. Which came into effect from October 30.

In this regard, the price of gold has been adjusted in the domestic market a total of 72 times this year. Where the price has been increased 49 times, and decreased only 23 times. And in 2024, the price of gold was adjusted a total of 62 times in the domestic market. Where the price was increased 35 times, and decreased 27 times.