Bangladesh Jewellers Association on Tuesday cut gold prices for a second consecutive day, lowering the rate by BDT 3,324 per bhori (11.664 grammes) in response to a decline in local pure gold costs. The new price took effect from 10 am, the association said in a notice.

The latest adjustment brings the price of 22-carat gold to BDT 221,966 per bhori, inclusive of value-added tax. The move follows a reduction of BDT 3,266 on Monday, when the rate was set at BDT 225,290.

Under the revised tariff, 21-carat gold stands at BDT 211,993 per bhori, 18-carat at BDT 182,075, and gold made by traditional gold at BDT 148,774. BAJUS said the prices would remain in effect across all jewellery outlets until further notice. Making charges based on design apply additionally, and since VAT is built into the sale price, customers cannot be charged VAT separately.

The association also lowered the price of silver by BDT 175 per bhori, setting 22-carat silver at BDT 4,491. A separate decision on VAT for silver jewellery will be announced shortly, it said.

Gold prices in Bangladesh have been adjusted 84 times so far this year, with 41 increases and 42 decreases alongside one VAT revision. Last year gold was adjusted 93 times, rising on 64 occasions.