Gold prices drop further by Tk 1,225 a bhori

Jewellers have further reduced gold price by up to Tk 1,225 per bhori with effect from today because of the slumping prices of the precious metal on the international market.
Bangladesh Jewellers Association on Wednesday announced the price cut of gold for the second time in two weeks.
The price of 22-karat gold has been reduced to Tk 41,757 a bhori or 11.664 gram from Tk 42,982.
The price of 21-karat has been set at Tk 39,658 a bhori, lowering by Tk 1,224 from the previous rate of Tk 40,882 a bhori.
The new rate of 18-karat gold has been lowered to Tk 33,900 a bhori from Tk 34,234.
The price of traditional gold is set at Tk 21,870 a bhori instead of Tk 22,861 a bhori.
The price of silver has also been lowered to Tk 933 a bhori from Tk 991.
The association reduced the gold price up to Tk 1,540 a bhori on July 22.
The price of gold was earlier cut on March 9 when the gold price on international market was $1,166.5 an ounce.
The price of the precious metal hit well over $1,900 an ounce in 2011 before slumping in recent months.
The price of gold was at near five-year low at $1,085 on Wednesday because of lack of global demand.

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