Price of Gold in Pakistan Falls by Nearly Rs. 30,000 Per Tola in One Week

The price of gold in Pakistan declined for the sixth consecutive day during the week on Saturday to close at Rs. 212,000 per tola. According to the data released by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) decreased by Rs. 500 per tola to Rs. 212,000 while the price of 10 grams declined by Rs. 428 to close at Rs. 181,756 on Saturday. The price of gold began the week with a slight decline of Rs. 700 per tola on Monday. However, the decreases in price stood at Rs. 6,300, Rs. 10,500, Rs. 5,800, and Rs. 4,000 per tola on Tuesday, Wednesday, Thursday and Friday respectively. Cumulatively, the price of the precious fell by a record Rs. 27,800 per tola during the outgoing week. The sharp decrease in the price of gold is largely due to the fall in the open market rate of the US dollar during the week.