Gold prices have fallen significantly in Bangladesh, with the price of 22-carat gold reduced by Tk 2,216 per bhori, or 11.664 grams.
Following the latest adjustment, the price of one bhori of 22-carat gold, including value-added tax (VAT), has been set at Tk 228,556. The new rate came into effect at 10am on Tuesday (29 September), according to the Bangladesh Jewellers Association (BAJUS).
The price reduction follows a decline in the price of Tejabi gold in the local market. BAJUS’s Standing Committee on Pricing and Price Monitoring took the decision at a meeting held on Tuesday. The revised rate was subsequently announced in a notice signed by the committee’s chairman, Dr Dewan Aminul Islam Shaheen.
The latest adjustment means buyers will now pay less for the gold component of jewellery than under the previous rate. However, the final amount paid for a piece of jewellery can vary depending on its design and the applicable making charge.
BAJUS said making charges will be applied according to the design of the jewellery. It also clarified that VAT is included in the selling price of gold and silver, meaning jewellers cannot collect VAT separately from customers on top of the stated selling price.
The association has also issued instructions concerning the exchange and purchase of jewellery. In exchange transactions, 12 per cent will be deducted after excluding the making charge and the value of stones. For outright purchases, the corresponding deduction will be 18 per cent, again after excluding making charges and the value of stones.
These provisions are particularly relevant to customers who intend to exchange existing jewellery for new pieces or sell previously owned jewellery. The amount received or adjusted in such transactions may therefore differ from the prevailing retail price of newly purchased gold.
Gold prices in Bangladesh are periodically revised in response to movements in the local market, including changes in the price of Tejabi gold. Such adjustments can directly affect the retail prices of jewellery and the cost faced by consumers.
The new rate will remain applicable at jewellery shops across the country until BAJUS announces a further revision. Customers purchasing gold jewellery are therefore expected to be charged according to the newly announced rate, while the final bill will depend on the jewellery’s design, making charge and other applicable costs.
