After posting a minor increase a day earlier, the price of gold in Pakistan plummeted by Rs. 4,500 per tola on Tuesday.
Gold Price Decrease and Market Trends
According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) decreased by Rs. 4,500 per tola to Rs. 204,500 while the price of 10 grams fell by Rs. 3,858 to close at Rs. 175,326. Today’s decrease is the second major decrease in the price of the precious metal in the last couple of weeks. Last week, on Monday, the price of gold declined by Rs. 8,800 per tola. Despite a three-day rally, cumulatively, the price of gold fell by Rs. 7,800 per tola during the last week.
Global Market Trends
In the international market, spot gold jumped 0.7 percent to $1,937.70 per ounce at 1011 GMT while the US gold futures climbed 0.7 percent to $1,943.60.
