Price of Gold in Pakistan Falls After Multiple Increases

After three consecutive increases earlier in the week, the price of gold in Pakistan fell by Rs. 500 per tola on Thursday. According to the data released by the All-Pakistan Gems and Jewellers Association (APGJA), the price of gold (24 carats) registered a decrease of Rs. 500 per tola to settle at Rs. 218,000 while the price of 10 grams fell by Rs. 428 to Rs. 186,900. The price of gold began the new week with an increase of Rs. 400 per tola on Monday and followed it with another increase of Rs. 400 per tola on Tuesday. Wednesday saw the price of the precious metal go up by Rs. 900 per tola. In the international market, spot gold rose 0.4 percent to $2,033.92 per ounce as of 0209 GMT, while the US gold futures remained unchanged at $2,048.40.