Price of Gold in Pakistan Increases by Rs. 5,000 Per Tola in One Week

The price of gold in Pakistan increased for the fifth consecutive day during the week to close at Rs. 226,800 per tola on Saturday. According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) increased by Rs. 1,500 per tola to Rs. 226,800 while the price of 10 grams went up by Rs. 1,286 to close at Rs. 194,444. The increase in the price of the precious metal on Saturday took the cumulative increase in the price to Rs. 5,000 per tola. It is pertinent to mention here that last week, the price of gold dropped by Rs. 1,000 per tola. The consistent increase in the price of gold is in line with the fast-depreciating Pakistani rupee. On Friday, the rupee closed at 295.78 against the US dollar. If the rupee’s fall isn’t arrested in the coming week, the price of the precious metal may increase further.