Gold prices have fallen again in Bangladesh's local market, with the Bangladesh Jewellers Association (Bajus) cutting the price of the best-quality 22-carat gold ornaments by Tk 1,108 per bhori, bringing it down to Tk 234,038.

The new rate came into effect from Wednesday morning.

Bajus said the price adjustment was made in response to a drop in the price of gold bullion in the local market.

The decision was taken at a meeting of Bajus's Standing Committee on Pricing and Price Monitoring.

The price of 21-carat gold ornaments was reduced by Tk 1,049 per bhori to Tk 223,541, while 18-carat gold ornaments now cost Tk 191,931 per bhori, down Tk 933.

The price of traditional-method (Sanatan) gold ornaments was also cut by Tk 700 per bhori, bringing the new price to Tk 156,822.

This is the second price cut in a row. Bajus had earlier reduced gold prices on September 6, when the price of 22-carat gold was cut by Tk 2,216 per bhori to Tk 235,146.

At the time, the price of 21-carat gold was reduced by Tk 2,100 to Tk 224,590, 18-carat gold by Tk 1,750 to Tk 192,864, and Sanatan gold by Tk 1,458 to Tk 157,522.

Taken together, the two rounds of price cuts on September 6 and Wednesday have brought down the price of 22-carat gold ornaments by a total of Tk 3,324 per bhori.

Despite the fall in gold prices, silver prices remain unchanged. The price of 22-carat silver ornaments, including VAT, stands at Tk 5,132 per bhori.

The price of 21-carat silver is set at Tk 4,957, 18-carat at Tk 4,257, and Sanatan silver at Tk 3,208 per bhori.