Price of Gold in Pakistan Decreases Slightly as International Prices Fall

The price of gold in Pakistan fell slightly on Friday to settle at just under Rs. 219,000 per tola. According to the data released by the All-Pakistan Gems and Jewellers Association (APGJA), the price of gold (24 carats) went down by Rs. 300 per tola to Rs. 218,600 while the price of 10 grams increased by Rs. 257 to Rs. 187,414. Yesterday, the price of gold (24 carats) went up by Rs. 800 per tola while the price of 10 grams increased by Rs. 685. However, on the previous two days i.e. Tuesday and Wednesday, the price of gold gained Rs. 5,500 per tola. In the international market, gold was on track for its first weekly decline in four weeks after losing 2 percent during the week. On Friday, spot gold went up by 0.1 percent to $2,030.32 per ounce by 0750 GMT, while the US gold futures were steady at $2,047.10.