Gold Price in Pakistan Drops Slightly But Set to Post Another Weekly Increase

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The price of gold in Pakistan went down slightly on Friday to settle at Rs. 220,500 per tola.

According to the data released by the All-Pakistan Gems and Jewellers Association (APGJA), the price of gold (24 carats) fell by Rs. 500 per tola to Rs. 220,500 while the price of 10 grams went down by Rs. 429 to Rs. 189,043.

The price of gold rose by Rs. 1,100 per tola on Monday before posting another increase of Rs. 800 on Tuesday. On Wednesday, the price jumped by Rs. 2,600 per tola, while there was no change on Thursday. Cumulatively, the price has risen by Rs. 4,000 per tola during the week so far despite today’s slight decline.

In the international market, gold prices are set for a third consecutive weekly increase with spot gold going up by 0.6 percent to $2,048.36 per ounce by 0932 GMT, while the US gold futures for February delivery saw an increase of 0.6 percent to $2,068.50.



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