Gold prices have declined again in the domestic market, with the price of the highest quality 22-carat gold reduced by Tk3,266 per bhori.

According to the Bangladesh Jewellers' Association (Bajus), the new price of 22-carat gold has been fixed at Tk264,948 per bhori (11.664 grams), effective from 10am on Monday.

The decision was taken at a meeting of the association’s Standing Committee on Pricing and Price Monitoring. The revised price list was later announced in a notification signed by the committee’s chairman, Dr Dewan Aminul Islam Shaheen.

Bajus said the adjustment was made following a decrease in the price of pure (acid) gold in the local market.

Under the new rates, the price of 21-carat gold has been reduced by Tk3,149 to Tk252,876 per bhori. The price of 18-carat gold has been lowered by Tk2,683 to Tk216,775 per bhori.

Gold produced under the traditional method has also been reduced by Tk2,216, bringing the price to Tk176,943 per bhori.

Earlier, on March 4, Bajus cut the price of 22-carat gold by Tk9,214 per bhori to Tk268,214. The latest reduction comes just five days after that adjustment.

Meanwhile, the price of silver has also been lowered.

Under the new decision, the price of 22-carat silver has been reduced by Tk175 to Tk6,357 per bhori. The price of 21-carat silver has been set at Tk6,065 per bhori, while 18-carat silver will cost Tk5,190 per bhori. Silver produced under the traditional method has been fixed at Tk3,907 per bhori.

The revised prices came into effect at jewellery shops across the country from 10am on Monday.