Gold Price in Pakistan Falls Slightly in Line With International Trend

The price of gold in Pakistan registered a slight decline on Wednesday to settle at Rs. 216,100 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. 300 per tola to Rs. 216,100 while the price of 10 grams fell by Rs. 257 to Rs. 185,271. The price of the precious metal in the local market fell by Rs. 1,900 per tola on Monday before posting an increase of Rs. 300 per tola on Tuesday. The recent decrease in the price of gold in the local market is due to the Pakistani Rupee’s rally against the US Dollar and a decline in international gold prices. Gold prices were steady in the international market today with spot gold largely unchanged at $2,028.69 per ounce as of 0405 GMT, while the US gold futures rose 0.1 percent to $2,034.20 per ounce.