Price of Gold Falls 2nd Day in a Row

The price of gold in Pakistan declined for the second consecutive day on Friday after a 7-day record-breaking run that saw it surge to over Rs. 285,000 per tola on Wednesday. According to data issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold (24 carats) fell by Rs. 800 per tola to Rs. 282,300, while the price of 10 grams was down by Rs. 686 to Rs. 242,027. The price of the precious metal stood at Rs. 275,000 on October 15 and rose by over Rs. 10,000 per tola in the next seven sessions to a record Rs. 285,400 on October 23. Since then, it has declined by Rs. 3,100 per tola. In the international market, spot gold was down by $8 at $2,726 per ounce on Friday, almost $30 below the record high of $2,758.37 hit on Wednesday.