Price of Gold in Pakistan Decreases on Opening Day of the Week

The price of gold in Pakistan began the new week with a decrease of Rs. 1,000 per tola on Monday.

According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) decreased by Rs. 1,000 per tola to Rs. 230,400 while the price of 10 grams went down by Rs. 857 to close at Rs. 197,531.

The price of the precious metal has been on increasing consistently for the past many weeks. However, last week the price of gold went down by Rs. 4,800 per tola. Currently, gold is trading much below the all-time high price of Rs. 240,000 per tola registered on May 10.

In the international market, spot gold was down 0.4 percent to $1,940.39 per ounce by 1247 GMT, while the US gold futures dropped 0.8 percent to $1,954.60.

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