Gold prices plunge by Tk 8,386 per bhori after record high

After hitting a record high earlier this week, gold prices in Bangladesh have been slashed once again. The Bangladesh Jewellers’ Association (BAJUS) on Wednesday announced a reduction of Tk 8,386 per bhori (11.664 grams) for 22-carat gold, bringing the new retail price down to Tk 2,08,996.

According to BAJUS, the price cut was made in response to a decline in the local market rate of pure gold. The new rates will take effect from Thursday (October 23).

The decision was finalised at a meeting of the BAJUS Standing Committee on Pricing and Price Monitoring, chaired by Masudur Rahman.

Just three days ago, on October 20, gold prices had reached an all-time high of Tk 2,17,382 per bhori for 22-carat gold — the steepest level ever recorded in Bangladesh. The sudden reduction marks a swift correction following that surge.

Under the new pricing structure:

22-carat gold: Tk 2,08,996 per bhori (down Tk 8,386)

21-carat gold: Tk 1,99,501 per bhori (down Tk 8,002)

18-carat gold: Tk 1,70,994 per bhori (down Tk 6,859)

Traditional gold: Tk 1,42,219 per bhori (down Tk 5,859)

Alongside the drop in gold prices, silver has also become cheaper.

22-carat silver: Tk 5,470 per bhori (down Tk 735)

21-carat silver: Tk 5,214 per bhori (down Tk 700)

18-carat silver: Tk 4,467 per bhori (down Tk 607)

Traditional silver: Tk 3,359 per bhori (down Tk 443)

Market insiders say the latest reduction reflects adjustments to international market trends and fluctuations in local demand. Jewellers expect steady sales in the coming weeks as the festive season approaches and prices stabilise after the recent volatility.