Gold prices drop after two consecutive hikes

The price of gold in the country has been reduced, with the rate of the highest-quality 22-carat gold per bhori (11.664 grams) cut by Tk 3,324, bringing the new price to Tk 267,106 per bhori.

The reduction follows a decrease in the price of pure gold in the local market and took effect from Thursday (March 12) at 10:00 am, according to the Bangladesh Jewellers Association (BAJUS).

The decision was made during a meeting of the BAJUS Standing Committee on Pricing and Price Monitoring on Thursday. A notification signed by the committee chairman, Dr Dewan Aminul Islam Shaheen, later confirmed the information.

Earlier, the price of one bhori of high-quality gold had been increased by Tk 2,216 from 10:00 am on Wednesday, March 11. Before that, on March 10, the price had been raised by Tk 3,266. After these two consecutive increases, the gold price has now been slightly reduced.

Alongside 22-carat gold, the price of 21-carat gold per bhori has been reduced by Tk 3,149, setting the new rate at Tk 254,975. The price of 18-carat gold per bhori has also fallen by Tk 2,683 to Tk 218,583. For gold measured using the traditional method, the rate has been decreased by Tk 2,216, bringing the new price to Tk 178,401 per bhori.