Jewellers Tuesday decided to reduce domestic prices of gold and silver as the international market continues to cool.
"We've decided to reduce the price of different carat of gold by Tk 1,458-Tk 1,493 on per bhori (11.664 gram) and silver price to Tk 158 on per bhori as the international price of both metals continue to decline for the last couple of days," Bangladesh Jewellers Samity (BJS) general secretary Enamul Haque Khan told the FE.
"We are observing the price of gold for the last couple of days and finally we have decided to reduce the price which will come into effect from tomorrow (Wednesday)," he said.
The newly fixed price of per bhori 22-carat gold is Tk 44,522, 21-carat is Tk 42,422, and 18-carat Tk 35,774, while the traditional gold price is set at Tk 24,086 and per bhori silver at Tk 1,050, according to BJS data.
The price of gold fluctuated from $1,169.20 to $1,155.30 per ounce in the international market on Tuesday till filing of the report at 7:30 in the evening.
Earlier, the price of per bhori 22-carat gold was Tk 46,014, 21-carat Tk 43,915, 18-carat Tk 37,266, and the traditional gold Tk 25,544 while price of a bhori silver is Tk 1,108, according to BJS data on January 21, 2015.
Kitco news reported gold prices are modestly lower and hit a 3.5-month low in early U.S. trading Tuesday. Sharp gains in the U.S. dollar index, which hit an 11.5-year high overnight, continue to be a bearish anchor for the precious metals markets.
Gold has also been a bearish victim of likely soon-coming U.S. monetary policy tightening, and of rallying world stock markets recently. The "risk-on" equites have in recent months been favored by investors, over the safe-haven gold market. April Comex gold was last down $2.30 at $1,164.20 an ounce. May Comex silver was last down $0.036 at $15.74 an ounce.
ironlady_007@yahoo.com
Gold price cut to be effective today
FE Report | Published: March 11, 2015 00:00:00 | Updated: November 30, 2026 06:01:00
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