The jewellers have cut gold prices by Tk 1,679 a bhori for the domestic market thanks to a drop in the rates of pure gold in the local market.

From Friday, the price of each bhori or 11.664 grams of 22-carat gold ornaments will be Tk 134,509, down from Tk 136,188 earlier.

The standing committee on pricing and price monitoring of Bangladesh Jewellers Association took the decision at a meeting in Dhaka today, the association said in a statement.

The country witnessed the price of gold rise above Tk 1 lakh per bhori for the first time on July 20 last year.