Gold prices fall by Tk 9,214 per bhori after six straight increases

Gold prices in the domestic market have fallen by Tk 9,214 per bhori after six consecutive increases, bringing relief to buyers following a sustained upward trend.

The price of 22-carat gold, the highest quality, has been set at Tk 268,214 per bhori (11.664 grams), down Tk 9,214 from the previous rate, according to the Bangladesh Jewellers Association (BAJUS).

A press release, signed by the Bangladesh Jewellers Association (BAJUS) Standing Committee on Pricing and Price Monitoring chairman Dr Dewan Aminul Islam Shahin, was issued in this regard on Wedenesday, March 4.

The new prices came into effect from 10:00 am following a decision taken at a meeting of the association’s Standing Committee on Pricing and Price Monitoring.

Under the revised rates, 21-carat gold now costs Tk 256,025 per bhori after a Tk 8,748 reduction, while 18-carat gold is priced at Tk 219,458 following a Tk 7,523 cut. Traditional method gold has been set at Tk 179,159 per bhori, down Tk 6,590.

The decline comes just a day after prices were raised on March 3, when 22-carat gold increased by Tk 3,324 to Tk 277,428 per bhori. Prior to that, gold prices had been raised in five additional phases, marking six straight increases before the latest revision.

Silver prices have also been lowered. The price of 22-carat silver now stands at Tk 6,532 per bhori (down Tk 641), 21-carat silver at Tk 6,240 (down Tk 642), 18-carat silver at Tk 5,365 (down Tk 525), and traditional method silver at Tk 4,024 (down Tk 404).

MAS/MHK