Price of Gold in Pakistan Falls by Rs. 26,600 Per Tola in Last 4 Days

The decline in the price of gold in Pakistan continued for the fifth straight day on Friday to close at Rs. 212,500 per tola.

According to the data released by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) declined by Rs. 4,000 per tola to Rs. 212,500.

The price of gold decreased by Rs. 700 on the opening day of the week to close at Rs. 239,100. However, since Tuesday the price of gold has been on a downward spiral. On Tuesday, the price of gold decreased by Rs. 6,300 per tola, the drop in price on Wednesday was biggest in the week and came in at Rs. 10,500 per tola. Yesterday, the price dropped by Rs. 5,800 per tola.

Today’s decline takes the losses during the week to Rs. 27,300 per tola while the decline in the last four days comes in at Rs. 26,600 per tola.

In the international market, spot gold went up by 0.2 percent to $1,923.63 per ounce by 1037 GMT, while the US gold futures increased by 0.3 percent to $1,947.60.