The price of gold rose once again on Thursday, making it the third consecutive increase during the current week.
According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) went up by Rs. 2,600 per tola to Rs. 225,300 while the price of 10 grams went up by Rs. 2,229 to Rs. 193,158.
The price of gold (24 carats) rose by Rs. 1,500 per tola on Tuesday and Rs. 1,700 per tola on Wednesday. In the last three sessions, the price of gold has registered an aggregate increase of Rs. 5,800 per tola.
The price of gold registered an increase of more than Rs. 10,000 per tola in March and followed it up with another increase of over Rs. 10,000 per tola in April. The trend in May so far suggests that this would be the third consecutive month where the price of the precious metal has increased by over Rs. 10,000 per tola.
In the international market, spot gold registered an increase of 0.2 percent to $2,042.43 per ounce by 1145 GMT while US gold futures jumped by 0.7 percent to $2,051.40.
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