Gold prices drop for 3rd consecutive time

The Bangladesh Jewellers Association (BAJUS) has announced a reduction in gold prices for the third consecutive time. 

The price of the highest quality 22-carat gold has been reduced by Tk 2,624 per bhori (11.664 grams), setting the new price at Tk 148,343 per bhori. This adjustment will take effect from Sunday, March 2.

The decision was announced in a press release signed by Masudur Rahman, Chairman of the BAJUS Price Determination and Monitoring Standing Committee, on Saturday, March 1. Prior to this, gold prices were reduced on February 23 and February 27.

This price cut follows eight consecutive increases in gold prices, marking a shift in the market trend after a prolonged period of rising costs.

Revised Gold Prices:
- 22-carat gold: Reduced by Tk 2,624 to Tk 148,343 per bhori. 
- 21-carat gold: Reduced by Tk 2,496 to Tk 141,601 per bhori.  
- 18-carat gold: Reduced by Tk 2,134 to Tk 121,376 per bhori.  
- Traditional method gold: Reduced by Tk 1,832 to Tk 99,890 per bhori.  

Silver Prices Remain Unchanged:
- 22-carat silver: Tk 2,578 per bhori.  
- 21-carat silver: Tk 2,449 per bhori.  
- 18-carat silver: Tk 2,111 per bhori.  
- Traditional method silver: Tk 1,586 per bhori.  

The reduction in gold prices comes amid fluctuating global market trends and aims to stabilize the domestic market. However, silver prices have remained unchanged during this period.