The price of gold in Pakistan has recorded a continuous increase for the third day in a row, reaching Rs. 208,400 per tola on Friday. This surge in price was reported by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA). The value of 24-carat gold rose by Rs. 600 per tola, settling at Rs. 208,400, while the price for 10 grams increased by Rs. 515, closing at Rs. 178,670.
Price Fluctuations and Weekly Drop
Despite the recent consecutive price hikes, the overall price of gold has witnessed a significant drop of Rs. 7,600 per tola in the current week. This decline is primarily attributed to a substantial decrease in the precious metal’s price at the beginning of the week, plummeting by Rs. 8,800 per tola. Additionally, there was a further decline of Rs. 2,200 per tola observed on Tuesday.
International Market Update
In the international market, spot gold experienced a 0.3 percent increase, reaching $1,915.79 per ounce by 0902 GMT. Simultaneously, US gold futures also rose by 0.3 percent, reaching $1,921.80.
