Gold prices drop by Tk 2,216 per bhori

The prices of gold in the country have been reduced by Tk 2,216 per bhori (11.664 grams), bringing the rate of 22-carat gold down to Tk 226,340, including value added tax (VAT).

Bangladesh Jewellers Association (BAJUS) Standing Committee on Pricing and Price Monitoring took the decision at a meeting on Saturday morning.

In a press release signed by committee Chairman Dr Dewan Aminul Islam Shahin, the BAJUS said the new rates came into effect at 10:00 am on Saturday.

Earlier on Thursday, BAJUS introduced a new pricing structure for gold, including VAT, following a government decision to fix VAT at Tk 2,500 per bhori instead of 5 per cent VAT.

As a result, the price of 22-carat gold had already been reduced by Tk 9,013 per bhori. On Friday, it was further cut by Tk 4,374 per bhori.

With the latest adjustment, gold prices have declined by Tk 15,603 per bhori over the past three days, reflecting continued fluctuations in the domestic market.

talhabinhabib@yahoo.com