Price of Gold in Pakistan Decreases Once Again

The price of gold in Pakistan dropped for the second consecutive day on Tuesday to close at Rs. 232,800 per tola. According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) decreased by Rs. 1,700 per tola to Rs. 232,800 while the price of 10 grams saw a decrease of Rs. 1,458 to close at Rs. 199,588. The price of gold had dropped by Rs. 1,700 per tola on Monday as well, meaning that the price of the precious metal has dropped by almost Rs. 3,500 per tola during the first two days of the week. During the last week, the price of gold increased by Rs. 900 per tola, while in the week before that, the price of gold went up by Rs. 1,300 per tola. In the international market, spot gold jumped by 0.6 percent to $1,954.79 per ounce by 1045 GMT while US gold futures increased by 0.49 percent to $1,954.00.