Dhaka, Feb. 2 -- Gold prices in Bangladesh have been cut by Tk6,590 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 was taken following 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 now cost Tk251,184.

The price of 21-carat gold has been fixed at Tk239,754 per bhori, while 18-carat gold will sell at Tk205,520. Gold made under the traditional method has been priced at Tk168,195 per bhori.

In addition to the selling price, buyers will have to pay a mandatory 5 percent government VAT and a ...