The jewellers have cut gold prices by Tk 840 a bhori for the domestic market thanks to a drop in the rates of pure gold in the local market.

From today, the price of each bhori or 11.664 grams of 22-carat gold ornaments will be Tk 118,798, down from Tk 119,638 earlier.

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

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