Gold Price Eases Slightly But Remains Above Rs. 218,000 Per Tola

After setting consecutive record highs in the previous two sessions, the price of gold in Pakistan dropped marginally on Friday. According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) decreased by Rs. 100 per tola to Rs. 218,700 while the price of 10 grams went down by Rs. 86 to Rs. 187,500. The price of gold (24 carats) surged to a new all-time high of Rs. 218,650 per tola on Wednesday. The record lasted for merely 24 hours as the price surged to another record high on Thursday to settle at Rs. 218,800 per tola. At the start of the current calendar year, the price of gold (24 carats) was below Rs. 190,000 per tola. In the international market, gold prices eased on Friday with spot gold down 0.3 percent at $1,982.65 per ounce by 1350 GMT and US gold futures down 0.4 percent to $1,991.30.