The Bangladesh Jeweler’s Association (BAJUS) has decided to reduce the price of gold by Tk 1,750 to Tk 1,11,158 per bhori following a decrease in the price of pure gold in the local market.

BAJUS`s standing committee on pricing and price monitoring decided this in a meeting on Tuesday, a press release said.

Now, gold of 22-carat will cost Tk 1,11,158 per bhori (11.664 grams), 21-carat Tk 1,06,142, 18-carat Tk 90,979, and gold of traditional method Tk 75,816 respectively.

The new prices will come into effect from Wednesday (March 20).

Earlier on March 7, the jewelers association hiked the price of gold to a record high of Tk 1,12,908 per bhori.