Decision to reduce prices of gold in country’s market

Sunbd Desk || Published: 2021-06-19 09:26:50 || Updated: 2021-06-19 09:26:50

The Bangladesh Jewelers Association (BAJUS) has decided to reduce the prices of gold in the country’s market after the recent two-fold price hike. The organization in charge of setting the price of gold in the country’s market is going to take such a decision as there is a big drop in the world market.

According to Bajus sources, the reduction in gold prices will be officially announced next Monday.

In this regard, the source said, the price of gold in the country increases or decreases depending on the world market. If the world market increases, the price of gold also increases in the country’s market. In the same way, if the price goes down in the world market, it also goes down in the country’s market. After adjusting the latest gold price in Bangladesh, the price of gold per ounce in the world market has come down above 100 dollars. As a result, the price of gold will naturally be reduced in the country’s market.

The source further said that at the rate at which the price of gold has gone up in the world market, Bajus can reduce the price of gold up to Rs 4,000 per gram if he wants. However, the executive committee will decide how much the price of gold will be reduced. In this case, the committee will announce the reduction of gold price on Monday after seeing the picture of the world market.

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