Gold prices have been reduced significantly in the local market, with the Bangladesh Jewellers Association announcing a cut of Tk7,640 per bhori.

According to the new rates, the price of 22-carat gold—the highest quality—has been set at Tk254,625 per bhori (11.664 grams). The revised prices will come into effect from 10:00am on Thursday.

The decision to lower prices was taken following a decline in the price of pure gold (acid gold) in the local market. The decision was made at a meeting of the BAJUS Standing Committee on Pricing and Price Monitoring.

Under the new pricing structure, 21-carat gold has been fixed at Tk 243,020 per bhori, while 18-carat gold will cost Tk 208,320 per bhori.

The price of gold under the traditional method has been set at Tk 169,653 per bhori.

BAJUS confirmed the revised rates through a press release signed by the committee chairman, Dr Dewan Aminul Islam Shahin.

FP/A