Dhaka, Feb. 2 -- Gold prices in Bangladesh have been cut by Tk 6,590 per bhori, with the new rates taking effect immediately, the Bangladesh Jewellers Association (BAJUS) said on Monday.

In a morning notice, BAJUS said the decision followed a decline in the local price of pure gold (tejabi), prompting a review of the overall market situation.

Under the revised rates, a bhori (11.664 grams) of 22-carat hallmark gold will cost Tk 251,184, UNB reports.

The price of 21-carat gold has been fixed at Tk 239,754 per bhori, while 18-carat gold will sell at Tk 205,520. Gold made under the traditional method has been priced at Tk 168,195 per bhori.

In addition to the selling price, buyers will have to pay a mandatory 5 per cent government VAT an...