Price of Gold in Pakistan Falls by Over Rs. 4,000 Per Tola

The price of gold in Pakistan registered a huge decrease on Tuesday and fell below the Rs. 220,000 per tola mark. According to the data released by the All-Pakistan Gems and Jewellers Association (APGJA), the price of gold (24 carats) went down by Rs. 4,200 per tola to Rs. 219,400 while the price of 10 grams fell by Rs. 3,601 to Rs. 188,100. This is one of the biggest drops in the price of the precious metal in the domestic market in recent weeks. Gold has been on a consistent bullish run, gaining over Rs. 7,000 per tola last week. In the international market, spot gold was up 0.2 percent to $2,032.70 per ounce by 0750 GMT, while the US gold futures for February delivery went up by 0.5 percent to $2,051.70.