Gold prices drop in local market

Gold prices in the local market were revised downward on Friday, with the rate of high-quality 22-carat gold falling by over Tk 2,215 per bhori (11.664 grams) to Tk 242,495.
Bangladesh Jewellers Association (BAJUS) adjusted the gold rates at a meeting of its Standing Committee on Pricing and Price Monitoring, according to a press release issued by the committee chairman Dr Dewan Aminul Islam Shahin.
BAJUS said the latest adjustment reflects a decline in the price of pure gold in the domestic market. The new rates came into effect from 10:00am on Friday.
The latest revision comes just eight days after a previous hike on May 7, when the price of 22-carat gold was increased by Tk 2,215 per bhori.
According to new rates, the price of 21-carat gold has been reduced by Tk 2,100 to Tk 231,472 per bhori. And the price of 18-carat gold fell by Tk 1,808 to Tk 198,405 per bhori, while that of traditional gold dropped by Tk 1,458 to Tk 161,605 per bhori.
Despite the fall in gold prices, silver rates remained unchanged.
The price of 22-carat silver stands at Tk 5,774 per bhori, while 21-carat silver is priced at Tk 5,540, 18-carat silver at Tk 4,724, and traditional silver at Tk 3,558 per bhori.
talhabinhabib@yahoo.com