The Bangladesh Jewellers Association (BAJUS) has decided to reduce gold prices in the country once again. This time, the price of 22-carat gold has been lowered by 2,624 BDT per bhori, setting the new price at 148,343 BDT per bhori. BAJUS announced this decision in a press release on Saturday, March 1, stating that the new prices will take effect from Sunday, March 2.

According to the statement, the price of pure gold (Tezabi gold) has decreased in the local market, leading to this price adjustment. The new rates per bhori (11.664 grams) are as follows:

• 22-carat gold: 148,343 BDT

• 21-carat gold: 141,601 BDT

• 18-carat gold: 121,376 BDT

• Traditional gold: 99,890 BDT

BAJUS also mentioned that a 5% government-imposed VAT and a minimum 6% wage set by BAJUS must be added to the selling price. However, labor costs may vary depending on the design and quality of the jewelry.

Previous Price Adjustment

The last price adjustment was on February 27, when BAJUS reduced the price of 22-carat gold by 2,403 BDT per bhori, setting it at 150,967 BDT per bhori. At that time, the prices were:

• 21-carat gold: 144,098 BDT

• 18-carat gold: 123,511 BDT

• Traditional gold: 101,722 BDT

That adjustment took effect from February 28.

Gold Price Adjustments in 2024

So far this year, BAJUS has adjusted gold prices 11 times, with 8 increases and only 3 decreases. In 2024, gold prices were adjusted 62 times, where 35 times the price increased and 27 times it decreased.

Silver Prices Remain Unchanged

Despite the drop in gold prices, silver prices remain unchanged in the local market. The current rates for 1 bhori of silver are:

• 22-carat silver: 2,578 BDT

• 21-carat silver: 2,449 BDT

• 18-carat silver: 2,111 BDT

• Traditional silver: 1,586 BDT