Gold Prices Reduced in Domestic Market

The Bangladesh Jewellers Association (BAJUS) has decided to significantly reduce gold prices in the domestic market. Under the new decision, the price of 22-karat gold has decreased by Tk 3,266 per bhori.

In a statement issued on Monday morning, BAJUS said the price of acid gold (pure gold) has declined in the local market. Considering the overall situation, it has set new gold prices, including VAT. The revised rates took effect at 10 am today.

Under the new pricing structure, 22-karat gold will cost Tk 225,290 per bhori (11.664 grams), including VAT. In addition, the price of 21-karat gold has been set at Tk 215,142 per bhori, 18-karat gold at Tk 184,758 per bhori, and traditionally crafted gold at Tk 150,932 per bhori.

These prices will remain effective at all jewelry establishments until further notice. However, labor charges will apply depending on the design of the jewelry. As VAT is already included in the selling price of gold, retailers may not charge VAT separately from customers.

BAJUS will also continue to apply its existing rules for jewelry exchange and purchase transactions, excluding specific VAT, labor charges, and the value of stones. It will announce a decision on VAT for silver very soon.

Previously, the Bangladesh Jewellers Association last adjusted gold prices on the morning of June 27. On that occasion, it increased the price of 22-karat gold by Tk 5,482 per bhori, setting the rate at Tk 228,556 per bhori, including VAT.

It also set the price of 21-karat gold at Tk 218,292 per bhori, 18-karat gold at Tk 187,440 per bhori, and traditionally crafted gold at Tk 153,148 per bhori. Those rates took effect at 10 am that day.