The price of gold in Bangladesh has dropped for the fourth consecutive time, with the Bangladesh Jewellers Association (BAJUS) announcing a fresh rate on Wednesday (November 14). The latest adjustment brings the price of the highest-grade 22-carat gold to Tk 145,500 per bhori (11.664 grams).

New rate fixed

According to the BAJUS announcement, the price of 22-carat gold has been set at Tk 145,500 per bhori. This marks the latest in a series of reductions over the past week, with each cut ranging between Tk 1,250 and Tk 1,500 per bhori. Retail outlets are now selling gold at this newly fixed rate.

Consecutive price cuts

Over the last seven days, the domestic gold market has witnessed four successive price reductions. Traders attribute the decline to a fall in international gold prices and subdued local demand. The adjustments have been made in line with global market trends, a practice BAJUS follows regularly.

BAJUS role in pricing

BAJUS, the country's apex body for gold traders, periodically revises gold rates to reflect international market movements. The latest revision also includes proportionate adjustments for other carats of gold, ensuring consistency across the board.

Market reaction

While the price drop has generated some interest among buyers, many are still waiting for further reductions, according to retailers. Whether this downward trend continues will depend largely on global market conditions in the coming days.