Traders have reduced gold prices by Tk 1,225 per bhori (11.664 gram), within a month after they were raised.
Bangladesh Jewellers Samity (BAJUS) said the revised rates will be effective from Monday.
Gold prices have been fluctuating for about two years.
On Oct 17, gold prices were raised in Bangladesh by Tk 1,500 per bhori.
"We've adjusted the prices with those in the global market," BAJUS General Secretary Enamul Haque Khan told bdnews24.com.
From Monday, each bhori of 22-carat gold will cost Tk 42,515 or Tk 3,645 per gram -- down from Tk 43,740 per bhori.
The price cut means a bhori of 21-carat gold will be available for Tk 40,415 and 18-carat gold can be purchased for Tk 33,417.
On Sunday, each gram of 22-carat was sold at Tk 3,750.
Gold sold in traditional method will cost Tk 22,686 from Monday, down from Tk 23,911 per bhori.
Silver prices, too, have been slashed by Tk 58 per bhori. Each bhori will now cost Tk 933, down from Tk 991.