Gold prices drop further in Bangladesh in two weeks

Jewellers in Bangladesh have cut the prices of gold again after a week by the same amount of Tk 1,166 per Bhori (11.664 grams).

Chief Economics Correspondentbdnews24.com
Published : 25 Sept 2017, 09:26 PM
Updated : 25 Sept 2017, 09:33 PM

In a media release on Monday, Bangladesh Jewellers Samity or Bajus said the new prices, with finest quality 22-carat gold costing Tk 47,822 per Bhori, will be effective from Tuesday.

According to the release, the prices of other qualities of the yellow metal will cost Tk 875 to Tk 1,050 less per Bhori.

Bajus General Secretary Dilip Kumar Agarwala said they cut the prices to readjust those with the international market.

"For the past few months the international gold market witnessed an upward trend, but the price started to drop two weeks ago," he said.

"Gold price in international market has dropped by $30 per ounce (2.654 Bhori) this week. We readjusted our prices according to that drop," he added.

The prices of gold went up by up to Tk 4,257 or 9.27 percent per Bhori in six weeks before last week's drop.

The new gold prices (per Bhori/11.664gm) are:

22 carat – Tk 47,822

21 carat – Tk 45,723

18 carat – Tk 40,241

Traditional system gold – Tk 25,347