Price of Gold in Pakistan Continues Volatile Streak

Gold maintained its volatile streak in Pakistan on Friday with the price of the precious metal dropping after two successive increases. According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) dropped by Rs. 400 per tola to Rs. 222,400 while the price of 10 grams decreased by Rs. 343 to close at Rs. 190,672. Despite avoiding any major changes, the price of gold has remained volatile for the past many ways. In the current week, the price of gold opened the new week with two successive drops which was followed by two successive increases. Cumulatively, the price of gold has dropped by Rs. 400 per tola in the current week so far. Last week the price of gold had dropped by Rs. 1,900 per tola. In the international market, spot gold jumped 0.3 percent to $1,917.73 per ounce by 1037 GMT, while the US gold futures were up 0.1 percent to $1,950.20.