Gold prices in the domestic market have dropped for the fifth consecutive time. On Friday (November 14), the Bangladesh Jewellers Association (BAJUS) announced the new rates, which took effect from today.

New rates and savings

According to BAJUS, the price of 22-carat gold has been reduced by Tk 4,000 per bhori, setting the new rate at Tk 155,000. Prices for other carats have also been adjusted proportionally. This marks a break from the recent upward trend, bringing some stability to the market.

Reasons behind the decline

Analysts attribute the consecutive price cuts to a downward trend in the international bullion market. A stronger dollar, easing geopolitical tensions, and shifting global economic conditions have contributed to the fall. Local traders say the cumulative reduction over five rounds has provided noticeable relief to consumers.

Traders' response

Leaders of BAJUS stated that the new rates align with the international market. They expressed optimism that the stable pricing will encourage buyers ahead of the upcoming wedding and Eid seasons. Meanwhile, silver prices remain unchanged.

Buyers' expectations

Visits to jewellery shops in the capital revealed a renewed interest among customers following the price cut. However, many are waiting for further reductions. Traders noted that additional price adjustments are possible, depending on the movement of global gold prices.