Price of Gold in Pakistan Decreases in Outgoing Week

The price of gold in Pakistan fell again on Saturday after a significant increase a day earlier. According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) decreased by Rs. 1,600 per tola to Rs. 231,400 while the price of 10 grams went down by Rs. 1,371 to close at Rs. 198,388. The price of gold has been increasing consistently for the past many weeks. The outgoing week is the first in many when the price has gone down significantly. The week opened with a decline of Rs. 1,700 per tola on Monday and followed it up with another decrease of Rs. 1,700 per tola on Tuesday. The precious metal gained Rs. 1,600 on Wednesday before falling by Rs. 5,400 per tola on Thursday before increasing by Rs. 4,000 per tola on Friday. Saturday’s decline means that, cumulatively, the price of gold fell by Rs. 4,800 per tola in the outgoing week. The price of gold has increased by Rs. 900 per tola in the previous week.