Price of Gold in Pakistan Decreases Slightly

The price of gold in Pakistan began the new week with a drop of Rs. 1,000 per tola on Monday. According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) decreased by Rs. 1,000 per tola to Rs. 220,700 while the price of 10 grams decreased by Rs. 858 to close at Rs. 189,214. The price of gold, which has been on an increasing trend for the past many months, has decreased significantly during the month of June. Since the start of June, the price of the precious metal has decreased by over Rs. 13,000 per tola. Gold is trading much below the all-time high of Rs. 240,000 per tola registered back on May 10. However, it has risen slightly in recent days after falling below Rs. 220,000 per tola. In the international market, spot gold fell 0.4 percent to $1,948.89 per ounce by 1211 GMT while the US gold futures were down 0.5 percent to $1,960.90.