The price of gold in the local market has dropped again within just 24 hours, with the Bangladesh Jewellers Association (BAJUS) reducing the rate by Tk 3,674 per bhori (11.664 grams).

In a press release issued on Monday night, BAJUS announced that the price of 22-carat gold will now stand at Tk 204,283 per bhori, effective from Tuesday.

According to the association, the price adjustment was made considering the fall in the price of pure gold (tejabi gold) in the local market.

As per the new rate, the price of 21-carat gold has been set at Tk 194,999 per bhori, 18-carat at Tk 167,145 per bhori, and traditional gold at Tk 138,942 per bhori.

BAJUS further noted that a 5 percent government VAT and a minimum 6 percent making charge—determined by the association—must be added to the sale price of gold. However, the making charge may vary depending on the design and quality of jewellery.

Earlier, on October 26, BAJUS reduced gold prices by Tk 1,039 per bhori, setting the 22-carat rate at Tk 207,957 per bhori.

With this latest adjustment, BAJUS has revised gold prices 69 times so far this year—increasing them 48 times and reducing them 21 times.