Dhaka, Oct. 31 -- The Bangladesh Jewellers' Association (BAJUS) has slashed domestic gold rates after a sharp downturn in the international bullion market.

The trade body lowered the price of 22-carat gold by Tk 5,482 per Bhori on Saturday, bringing the premium grade down to Tk 217,592 per Bhori.

The association scaled back prices across all categories of gold along with silver. The revised tariffs took effect nationwide at 10am on Saturday.

The latest price cut capped a week of intense market volatility. After reducing 22-carat gold by Tk 10,439 per Bhori across four phases, BAJUS raised rates by Tk 2,216 on Wednesday and another Tk 1,633 on Thursday to reach Tk 224,707 per Bhori.

The jewellers subsequently reduced the tariff by Tk 1...