The Bangladesh Jewellers Association (BAJUS) has reduced gold prices in the local market, cutting the price of 22-carat gold by Tk 2,158 per bhori.
Following the latest adjustment, one bhori of 22-carat gold has been priced at Tk 2,31,880. The new rates took effect at 10am on Friday.
The decision was taken unanimously at a meeting of the BAJUS Standing Committee on Pricing and Price Monitoring, following a decline in the price of pure gold, or Tejabi gold.
Under the revised rates, 21-carat gold has been priced at Tk 2,21,441 per bhori, while 18-carat gold costs Tk 1,90,123 per bhori. Gold sold under the traditional system has been set at Tk 1,55,306 per bhori.
The previous adjustment was made on September 9, when the price of 22-carat gold was set at Tk 2,34,038 per bhori. The prices of 21-carat, 18-carat and traditional gold were set at Tk 2,23,541, Tk 1,91,931 and Tk 1,56,822 per bhori, respectively.
BAJUS said making charges will apply depending on the design of jewellery. As VAT is included in the selling price, jewellers cannot collect VAT separately from customers.
For jewellery exchange transactions, 12% will be deducted after excluding making charges and the price of stones. In the case of purchases, 18% will be deducted. BAJUS said VAT cannot be deducted separately in either exchange or purchase transactions.
The revised prices will remain effective at jewellery shops across the country until further notice.
