Gold prices have dropped for the second time in a span of three days.
The price of gold in Bangladesh has seen a decline for the second time in just three days. This reduction in gold prices is a decision made by local jewelers, and it follows a previous cut of 1.2 percent over the past three days. So, let's break down what's happening:
Starting from tomorrow, if you're looking to buy a certain amount of gold known as a "bhori," it will cost you Tk 98,210. This represents a 1.74 percent decrease from today's price, which stands at Tk 99,960. To put it simply, the price of 22-carat gold, a popular choice for making jewelry, has dropped by 3 percent. In terms of money, that's Tk 3,033 less per bhori. This price drop comes after 22-carat gold had maintained a value of over Tk 100,000 for more than a month.
Now, why did jewelers decide to lower gold prices? They mentioned that the cost of pure gold has gone down in the local market. In other words, the raw material they use to make jewelry has become less expensive.
It's important to note that the price of gold has been
fluctuating, going up and down, for over a year now. So, this change is part of
the ongoing ups and downs in the gold market.
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