Price of Gold in Pakistan Increases After Consecutive Losses

The price of gold increased by Rs. 800 per tola on Thursday after registering significant losses earlier in the week. According to the data released by the All-Pakistan Gems and Jewellers Association (APGJA), the price of gold (24 carats) went up by Rs. 800 per tola to Rs. 218,900 while the price of 10 grams increased by Rs. 685 to Rs. 187,671. The price of gold remained stable on Monday before falling by Rs. 4,200 per tola on Tuesday. Wednesday saw the price dip by another Rs. 1,300, taking the two-day losses to Rs. 5,500 per tola. Barring the losses during the current week, the price of gold has been on an upward trajectory for the past many weeks. In the international market, spot gold was up 0.4 percent to $2,032.90 per ounce by 1155 GMT, while the US gold futures rose 0.1 percent to $2,050.20.