Gold prices have fallen, with the price of the best-quality, or 22-carat, gold cut by Tk 3,266 per Bhori or 11.66 grams after four days to Tk 228,031.
The Bangladesh Jewellers Samity (BAJUS), announced the price cut, with the new rates taking effect across the country from 10am on Tuesday.
The prices of other grades of gold have also been reduced at roughly the same rate.
According to the BAJUS announcement, hallmarked 22-carat gold jewellery is being sold at Tk 19,550 per gram, including VAT, in the domestic market from 10am on Tuesday. With one Bhori equivalent to 11.664 grams, the price stands at Tk 228,031 per Bhori.
A Bhori of 21-carat gold is selling for Tk 217,767.
Meanwhile, 18-carat gold is being sold at Tk 187,032 per Bhori, while gold of the traditional method costs Tk 152,798 per Bhori.
Until 10am on Tuesday, 22-carat gold was selling for Tk 231,297 per Bhori, while 21-carat gold was priced at Tk 220,916. The price of 18-carat gold was Tk 189,715 per Bhori, while gold of the traditional method was selling for Tk 154,956 per Bhori.
The calculations show that the price of 22-carat gold has fallen by Tk 3,266 per Bhori in four days. The price of 21-carat gold has dropped by Tk 3,149, while 18-carat gold has become Tk 2,683 cheaper and gold of the traditional method has fallen by Tk 2,156 per Bhori.
Explaining the price cut, BAJUS said in a statement that the price of pure gold, known locally as “Tejabi” gold, had declined in the domestic market.
The new prices were set after taking the overall situation into consideration, it said.
| Purity | Per Bhori (Tk) | Decrease (Tk) | |
| 22-carat | 228,031 | 3,266 | |
| 21-carat | 217,767 | 3,149 | |
| 18-carat | 187,032 | 2,683 | |
| Traditional method | 152,798 | 2,156 | |
Global Market
After setting a series of records, gold prices in the international market crossed the $5,500-an-ounce milestone on Jan 29, when the precious metal climbed as high as $5,511.28 per ounce. One ounce is equivalent to 31.103 grams.
Prices have fluctuated since then.
At 12:30pm Bangladesh time on Tuesday, spot gold was trading at $4,185.68 an ounce in the global market.
On Mar 23, spot gold fell as low as $4,100 an ounce at one point, its lowest level since Dec 11 last year.
Silver Prices Also Dip
Silver prices have also fallen alongside gold.
From 10am on Tuesday, hallmarked 22-carat silver jewellery is being sold at Tk 360 per gram, including VAT, across the country. At 11.664 grams to a Bhori, the price stands at Tk 4,199 per Bhori.
Until 10am, silver was selling for Tk 4,316 per Bhori. By that calculation, the price has fallen by Tk 117 per Bhori.