Bangladesh gold prices fall further as Bajus cuts 22-carat rate
Bangladesh's jewellery market is seeing another sharp price adjustment, with gold rates dropping again from 31 October after a recent decline earlier in the week. The latest revision takes the price of 22-carat gold down by Tk5,481 per bhori and extends the two-day fall to Tk7,114 per bhori.
Highlights
- Bangladesh Jewellers Association reduces 22-carat gold price to Tk217,592 per bhori effective 10am, 31 October, after a fall in tejabi gold prices.
- 21-carat gold falls by Tk5,249 to Tk207,794 per bhori, 18-carat by Tk4,491 to Tk178,459, and traditional-method gold by Tk3,674 to Tk145,800.
- 22-carat silver drops by Tk175 to Tk3,499 per bhori, with across-the-board reductions reflecting broader precious metals weakness in the local market.
Revised bullion rates take effect
As reported by The Business Standard, citing the Bangladesh Jewellers Association, the new prices come into effect at 10am on 31 October after a fall in the price of pure gold, or tejabi gold, in the local market. Under the revised rates, 22-carat gold is fixed at Tk217,592 per bhori, including VAT, while 21-carat gold falls by Tk5,249 to Tk207,794 per bhori.The price of 18-carat gold is reduced by Tk4,491 to Tk178,459 per bhori, and traditional-method gold declines by Tk3,674 to Tk145,800 per bhori. Gold prices were last reduced by Tk1,633 per bhori on Friday, adding to the latest downward move.
Wider impact on silver and local trade
Silver prices are also reduced across all categories, pointing to broader weakness in precious metals pricing in the local market. The price of 22-carat silver is cut by Tk175 to Tk3,499 per bhori, while 21-carat silver falls by Tk116 to Tk3,383.The price of 18-carat silver declines by Tk117 to Tk2,916 per bhori, and traditional-method silver becomes cheaper by Tk58 to Tk2,216 per bhori. The latest changes leave jewellers and buyers facing lower benchmark prices across both gold and silver segments.
Our earlier article on Richemont’s talks to join a consortium bidding for De Beers examined how the Cartier owner could deepen its role in the diamond supply chain. We noted that securing closer access to a major diamond producer would strengthen control over key raw materials for luxury jewellery brands as the mining sector emerges from a slump.
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