Price of Gold in Pakistan Jumps by Rs. 1,100 Per Tola

The price of gold in Pakistan surged by over Rs. 1,000 per tola on Monday to settle at Rs. 217,600.

According to the data released by the All-Pakistan Gems and Jewellers Association (APGJA), the price of gold (24 carats) rose by Rs. 1,100 per tola to Rs. 217,600 while the price of 10 grams registered an increase of Rs. 943 to Rs. 186,557.

During the last week, the price of gold remained unchanged on Monday before posting two consecutive increases of Rs. 500 and Rs. 900 on Tuesday and Wednesday respectively The price fell by Rs. 650 per tola on Thursday before a further decline of Rs. 150 on Friday. However, Saturday saw the price rise by Rs. 800 per tola to settle at Rs. 216,500. Cumulatively, the price of the precious metal rose by Rs. 1,400 per tola during the week.

In the international market, gold prices hit a more than six-month high today with spot gold rising 0.5 percent to $2,012.33 per ounce by 1147 GMT, while the US gold futures also jumped 0.5 percent to $2,013.10.

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