Bangladesh Jewellers Association (BAJUS) has cut the price of gold by Tk 1,691 per bhori, setting the price of 22-carat gold at Tk 2,29,081 per bhori, including VAT.

The new price come into effect from 10am Monday, BAJUS said in a notice issued in the morning.

According to the notice, the price of pure gold, locally known as Tejabi gold, has declined in the local market.

Considering the overall market situation, BAJUS has revised the prices of gold, including VAT.

Under the new rates, 21-carat gold will cost Tk 2,18,817 per bhori, while 18-carat gold will be priced at Tk 1,87,907 per bhori. The price of traditional-method gold has been set at Tk 1,53,498 per bhori.

One bhori of gold is equivalent to 11.664 grams.

BAJUS said making charges will apply depending on the design of jewellery. Since VAT is already included in the selling prices of gold and silver jewellery, jewellers cannot collect VAT separately from customers.

For jewellery exchange, 12 percent will be deducted, while 18 percent will be deducted in case of purchase, excluding making charges and the value of stones.

No separate VAT deduction will be applicable in exchange and purchase transactions, it said.

The revised prices will remain effective at all jewellery shops until further notice, BAJUS said.

Earlier on Sept 30, BAJUS had cut the price of 22-carat gold by Tk 2,216 per bhori to Tk 2,30,772, including VAT.

At that time, 21-carat gold was priced at Tk 2,20,391 per bhori, 18-carat gold at Tk 1,89,248 and traditional-method gold at Tk 1,54,606. The prices took effect from 10am that day.

With Monday’s adjustment, gold prices have been revised 121 times in the country so far this year. Prices have been increased 59 times, reduced 61 times and adjusted once for VAT.

Meanwhile, silver prices remained unchanged.

At present, 22-carat silver is selling at Tk 4,316 per bhori, including VAT, while 21-carat silver is priced at Tk 4,141, 18-carat silver at Tk 3,558 and traditional-method silver at Tk 2,683 per bhori.

Silver prices have been adjusted 73 times so far this year, with 36 increases and 37 decreases.