Gold Price in Pakistan Records Massive Decrease

The price of gold in Pakistan posted one of the biggest declines in recent weeks as it plummeted by Rs. 2,000 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. 2,000 per tola to Rs. 215,300 while the price of 10 grams decreased by Rs. 1,715 to Rs. 184,585. The price of the precious metal had increased by Rs. 450 per tola on Monday before posting a decline of Rs. 600 per tola on Tuesday. In the international market gold prices fell to a near one-week low on today as the US dollar strengthened with spot gold down 0.2 percent at $2,024.49 per ounce as of 0827 GMT while the US gold futures were down 0.1 percent to $2,027.70. Note: The decline in price was earlier reported to be Rs. 3,600 per tola, however, the revised figure of Rs. 2,000 decrease was issue later. The story has been updated accordingly.