The price of gold in Pakistan fell for the second consecutive day on Friday to close at Rs. 197,100 per tola.
According to the data released by the All-Pakistan Gems and Jewellers Association (APGJA), the price of gold (24 carats) fell by Rs. 100 per tola to Rs. 197,100 while the price of 10 grams went down by Rs. 89 to close at Rs. 168,981.
The price of gold was officially announced by traders for the first time in almost a month on Tuesday. On the following day (Wednesday), the price of gold increased by Rs. 5,500 per tola to reach Rs. 205,000. However, on Thursday the price of gold plummeted by Rs. 7,800 per tola to close at Rs. 197,200.
In the international market, spot gold was up almost 1 percent to $1,886.40 per ounce by 0932 GMT, while the US gold futures registered an increase of 0.9 percent to $1,899.20.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
Advocates High Court & Tax Counsel
Jurisdiction: Pakistan