For the first time in more than three months, Bangladesh Jewellers Samity (Bajus) today reduced the price of gold by 1.24 percent or Tk 1,166 per bhori in line with a fall in the price of the precious metal in the local market.

From now on, the price of one bhori of 22-carat gold (11.664g) will be Tk 92,263, said Bajus in a press release today.

The association had been hiking the price of gold for over three and a half months from October 24, 2022 -- since it last slashed the price.

The new price will come into effect from today, said MA Hannan Azad, chairman of Bajus standing committee on fixing and monitoring prices.

In mid-January this year, Bajus hiked the price of gold to Tk 93,429 per bhori, the highest so far in the country's history.