Price of Gold in Pakistan Surges by Nearly Rs. 6,000 Per Tola

After three straight declines earlier in the week, the price of gold in Pakistan rose by almost Rs. 6,000 per tola on Thursday. According to the data released by the All-Pakistan Gems and Jewellers Association (APGJA), the price of gold (24 carats) went up by Rs. 5,700 per tola to Rs. 218,300 while the price of 10 grams increased by Rs. 4,887 to Rs. 187,157. The price of the precious metal rose by Rs. 200 per tola on Monday and followed it by an increase of Rs. 1,800 per tola on Tuesday. Wednesday saw the price rise by another Rs. 1,000 per tola. This took the cumulative increase in the first three days of the week to Rs. 3,000 per tola. In the international market, gold prices extended gains to a one-week high with spot gold up 0.2 percent at $2,031.28 per ounce as of 0130 GMT, while the US gold futures rose 2.4 percent to $2,045.50.