Price of Gold in Pakistan Remains Stable After Week of Volatility

After falling slightly a day earlier, the price of gold in Pakistan remained stable on Wednesday. According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) remained unchanged at Rs. 233,100 per tola while the price of 10 grams stood at Rs. 199,846. The price of gold had begun the current week by registering an increase of Rs. 1,100 per tola on Monday but it fell by Rs. 2,000 per tola on Tuesday. This means that in the first three sessions of the week, the price of gold has decreased by Rs. 900 per tola so far. This is in sharp contrast to the previous week when the price of gold registered a cumulative increase of Rs. 8,500 per tola. The price of the precious metal has seen an increase of Rs. 10,000 per tola in both March and April. In the international market, gold prices eased today with spot gold down 0.1 percent at $1,986.64 per ounce by 0854 GMT while US gold futures were down by 0.1 percent to $1,991.50.