Gold Rate in Pakistan Posts Week’s Biggest Increase, up Over Rs. 10,000 Per Tola in Four Days 

The price of gold in Pakistan posted its fourth straight increase this week as it continued its recovery from last week’s slump.  According to data issued by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA), the price of gold (24 carats) rose by Rs. 3,700 per tola to Rs. 278,000, while the price of 10 grams was up by Rs. 3,172 to Rs. 238,340.    The price of gold has been on the path to recovery this week after last week’s heavy losses. Gold rose by Rs. 800 per tola in the local market on Wednesday after earlier increase of Rs. 3,600 pert tola on Tuesday and Rs. 2,500 per tola on Monday.   Cumulatively, gold has risen by Rs. 10,600 per tola during the week so far. However, it is still trading below the all-time high level of Rs. 287,900 per tola.   Gold prices also rose for a fourth straight session on in the international market today with spot gold up 0.5 percent to $2,663.47 per ounce as of 0745 GMT, while the US gold futures were up 0.6 percent to $2,666.20.