Gold price drops by Tk14,600 per bhori after record high

After five consecutive hikes, the Bangladesh Jewellers Association (BAJUS) has announced a sharp cut in gold prices in the local market. 

Prices have been reduced by up to Tk14,600 per bhori, bringing the price of standard-quality gold down to Tk271,000.

Just a day earlier, the price had climbed to Tk286,000 per bhori — the highest ever recorded in Bangladesh.

In a notice issued on Friday (30 January), BAJUS said the revised prices came into effect from 10:45am the same day.

According to the association, the reduction follows a fall in the price of tejaabi (pure) gold in the local market.

Meanwhile, gold prices also declined in the international market. Data from GoldPrice.org, a widely recognised global price-tracking website for gold and silver, shows that the price of gold fell to USD 5,200 per ounce on Friday morning, down from over USD 5,550 the previous day.

Under the new rates in the domestic market, the price per bhori now stands at Tk271,363 for 22-carat gold, Tk259,000 for 21-carat, Tk222,024 for 18-carat, and Tk182,833 for traditional-method gold.

Silver prices have also been reduced. The price of 22-carat silver is now Tk7,757 per bhori, while 21-carat silver is priced at Tk7,407, 18-carat at Tk6,357, and traditional-method silver at Tk4,782 per bhori.