Price of Gold in Pakistan Rises Once Again

The price of gold in Pakistan rose again on Friday after registering a surprise decline a day earlier. According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) increased by Rs. 1,800 per tola to Rs. 222,900 while the price of 10 grams jumped by Rs. 1,542 to close at Rs. 191,100. The price of gold registered an increase of Rs. 1,600 per tola on Monday and followed it up with another increase of Rs. 6,200 per tola on Tuesday. On Wednesday, the price of gold rose by Rs. 5,400 per tola to take the cumulative increase in the first three days to Rs. 13,200 per tola. However, there was a surprise decline in the price of the precious metal on Thursday as it dipped by Rs. 5,300 per tola. Today’s increase means that, cumulatively, the price of the precious metal has risen by Rs. 9,700 per tola during the current week. In the international market, spot gold was down 0.4 percent to $1,962.69 per ounce by 1119 GMT, while the US gold futures fell by 0.3 percent to $1,965.