Price of Gold in Pakistan Rebounds After Multiple Decreases

The price of gold increased for the first time during the current week on Thursday to close at Rs. 220,700 per tola. According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) increased by Rs. 1,700 per tola to Rs. 220,700 while the price of 10 grams increased by Rs. 1,458 to close at Rs. 189,215. The price of gold had decreased by Rs. 1,750 per tola on Monday before plummeting by Rs. 4,000 per tola on Tuesday. The price also fell by Rs. 2,500 per tola on Wednesday. The consecutive declines in the price during the first here days of the week mean that despite today’s increase, cumulatively, the price of gold has gone down by Rs. 6,550 per tola during the week. In the international market, spot gold was up 0.4 percent at $1,950.59 per ounce by 1352 GMT, while the US gold futures went down by 0.3 percent to $1,962.90.