Price of Gold in Pakistan Decreases for Fourth Straight Day

The price of gold in Pakistan decline for the third consecutive day in the ongoing week and for the fourth straight day overall on Wednesday.

According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) fell by Rs. 800 per tola to Rs. 227,300 while the price of 10 grams went down by Rs. 686 to close at Rs. 194,873.

The current decline in price started last Saturday when the price declined by Rs. 1,600 per tola. The price fell again on Monday by Rs. 1,000 per tola before registering another decrease of Rs. 2,300 per tola on Tuesday. Today’s decrease means that, cumulatively, the price of the precious metal has gone down by Rs. 4,100 per tola during the current week. Currently, the precious metal is trading much below the all-time of Rs. 240,000 per tola.

In the international market, spot gold was down 0.1 percent at $1,960.49 per ounce by 1340 GMT while the US gold futures were down 0.3 percent to $1,976.50.

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