Gold prices have been reduced in Bangladesh, with the Bangladesh Jewellers Association (BAJUS) cutting prices of all categories of gold along with silver following a decline in the local price of refined gold.The new prices came into effect at 10am on Saturday (August 29).Under the latest decision, the price of 22-carat gold has been set at Tk 240,636 per bhori, down Tk 7,109 from the previous price of Tk 247,745.BAJUS made the decision at a meeting of its Standing Committee on Pricing and Price Monitoring, citing lower prices of refined gold and silver in the local market.The new price of 22-carat gold is Tk 20,630 per gram, while 21-carat gold will cost Tk 19,700 and 18-carat gold Tk 16,920 per gram. Gold of the traditional method has been priced at Tk 13,820 per gram.Per bhori, 21-carat gold will cost around Tk 229,891, 18-carat gold Tk 197,333 and traditional-method gold around Tk 161,173.Silver prices also cutBAJUS has also reduced silver prices. The new price of 22-carat silver is Tk 455 per gram, down from Tk 470. The prices of 21-carat, 18-carat and traditional-method silver have been set at Tk 435, Tk 375 and Tk 285 per gram, respectively.The latest reduction follows several price adjustments in August. On August 25, BAJUS had set the price of 22-carat gold at Tk 247,745 per bhori.BAJUS said the announced prices include VAT, meaning jewellers cannot charge customers VAT separately. However, making charges may be added depending on the design and craftsmanship of the jewellery.The new rates will remain effective at jewellery shops across the country until further notice.