Jewellers cut gold prices a day after hike amid market volatility

Just a day after hiking prices, jewellers have cut the rate of the precious metal, reflecting high volatility in the domestic market.

Today, Bangladesh Jewellers Association (Bajus) said the price of gold will be Tk 200,095 per bhori (approximately 11.664 grammes), down by Tk 2,613 from Tk 202,708 per bhori fixed on Wednesday.

This is the fifth consecutive day since October 26 that gold prices have been revised by Bajus.

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The association said the price of the popular metal, used widely in making ornaments in this South Asian country, fell due to a drop in the rates of pure gold in the local market.

On October 20, gold prices surged to a historic peak of Tk 217,381 per bhori in the local market, influenced by a spike in the international market.