After two consecutive price increases, the Bangladesh Jewellers Association (BAJUS) has made a major adjustment to gold prices in the country’s market. The price of a bhori of 22-carat gold has been reduced by Tk 3,324 to Tk 220,858, including VAT. Silver prices have also been reduced.
BAJUS announced the new prices in a notice on Friday (July 24). The revised prices came into effect at 10am on Friday.
BAJUS said the new prices were set after considering the overall market situation, as the price of Tejabi gold (pure gold) had declined in the local market.
Under the new price structure, a bhori (11.664 grams) of 22-carat gold costs Tk 220,858, including VAT. The price of 21-carat gold has been set at Tk 210,943 per bhori, while 18-carat gold costs Tk 181,200 per bhori. Gold sold under the traditional system has been priced at Tk 148,016 per bhori.
BAJUS said the new prices would remain effective at all jewellery shops across the country until further notice. However, making charges will apply depending on the design and style of the jewellery.
The organisation said VAT is already included in the selling price of gold and silver jewellery, so customers cannot be charged VAT separately. Existing BAJUS rules will continue to apply to jewellery exchanges and purchases after excluding applicable VAT, making charges and the price of stones.
Earlier, on July 22, BAJUS had increased the price of gold. The price of a bhori of 22-carat gold, including VAT, was raised by Tk 2,741 to Tk 224,182.
Alongside gold, silver prices have also been reduced in the country’s market. The price of a bhori of 22-carat silver has been cut by Tk 175 to Tk 4,607. The price of 21-carat silver has been set at Tk 4,374 per bhori, 18-carat silver at Tk 3,791 and traditional silver at Tk 2,858 per bhori.
