Gold prices are set to decline today (November 16) as the Bangladesh Jewellers Association (Bajus) has announced a cut in the rates.

The Bajus said gold will be sold at Tk 208,272 per bhori, down by Tk 5,446 or 2.54 percent from Tk 213,719 per bhori that prevailed on Friday and Saturday.

The association revised the rate two days after it hiked the prices of the precious metal, which hit a historic peak of Tk 217,381 per bhori (approximately 11.664 grammes) on October 20.