Gold prices in the local market have fallen for the second consecutive day. According to New Age, the price of gold was reduced by Tk 2,157 per bhari on Thursday (November 13). Following the adjustment, the price of 22-carat gold now stands at Tk 152,858 per bhari.

Consecutive Decline

The price had previously been reduced by Tk 2,217 per bhari on Wednesday (November 12). Over the two-day period, the cumulative reduction amounts to Tk 4,374 per bhari. The ongoing downward trend is being viewed as a relief for prospective buyers.

Pricing Mechanism

The Bangladesh Jewellers Association (BAJUS) typically sets gold prices in line with local market conditions and international market rates. As the apex trade body for the country's gold industry, the rates announced by BAJUS are followed by jewellery outlets nationwide.

Market Impact

Traders anticipate that the price reduction may stimulate fresh demand for gold purchases. However, further fluctuations in prices remain possible depending on global market movements and domestic demand patterns in the coming days.