The Bangladesh Jewellers Association (BAJUS) has announced another reduction in gold prices in the domestic market, according to Dhakatimes24. Under the new rates, the price of 22-carat gold has been cut by Tk1,691 per bhori to Tk226,340.
BAJUS said in a notice that the revised prices took effect from 10am on Thursday, 22 October. The association attributed the change to a decline in the price of tezabi (pure) gold in the local market.
Why it matters
This is the second price cut in nine days. On 13 October, BAJUS lowered 22-carat gold by Tk3,266 per bhori to Tk228,031. With the latest reduction, the price of 22-carat gold has come down by a combined Tk4,957 per bhori across the two rounds, Dhakatimes24 reports.
For buyers, the two consecutive cuts offer some relief after a period of elevated rates. For jewellers, the frequent revisions reflect how closely local pricing follows movements in the pure gold market. BAJUS sets the rates that member shops across the country are expected to follow, which makes its notices the reference point for retail transactions.
What the new rates look like
The 22-carat price now stands at Tk226,340 per bhori, inclusive of VAT. A bhori is equivalent to 11.664 grams.
The notice also covered the other categories. BAJUS reduced the price of 21-carat gold by Tk1,582 to Tk216,010 per bhori, and 18-carat gold by Tk1,355 to Tk185,130 per bhori. Under the traditional method, the price was cut by Tk1,111 to Tk151,220 per bhori. All figures include VAT and apply from Thursday morning.
Silver also became cheaper. BAJUS set the new price of silver ornaments at Tk2,578 per bhori for 22-carat, Tk2,344 for 21-carat, Tk2,006 for 18-carat and Tk1,578 for the traditional method, VAT included.
A pattern of frequent revisions
The 13 October cut was broader in scope. At that time, BAJUS reduced 21-carat gold by Tk3,149 to Tk217,767, 18-carat by Tk2,682 to Tk187,032 and traditional-method gold by Tk2,158 to Tk152,798 per bhori.
The association has now moved rates twice within a little over a week, each time citing conditions in the local pure gold market. The pattern suggests that BAJUS is adjusting prices in step with underlying bullion costs rather than holding them steady for longer periods.
The latest notice did not specify the size of the decline in tezabi gold that prompted the revision. It also did not indicate how long the new rates are expected to remain in place.
What to watch
Traders and buyers will be watching whether the downward trend in pure gold continues, which would open the door to further cuts. Any reversal in the local bullion market would likely be reflected in the next BAJUS notice.
