After unexpected losses earlier in the week, the price of gold in Pakistan rose significantly on Friday.
The price of gold (24 carats) jumped by Rs. 4,000 per tola to Rs. 233,000, according to statistics issued by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), while the price of 10 kilos increased by Rs. 3,429 to close at Rs. 199,760.
This is the first significant increase in the price of gold this week. The week began with a drop of Rs. 1,700 per tola on Monday and Tuesday, followed by a gain of Rs. 1,600 per tola on Wednesday. However, the price fell by more than Rs. 5,000 a tola on Thursday.
With today’s rise, the precious metal has reduced its losses to Rs. 3,200 per tola so far this week.
Internationally, actual gold rose 0.1 percent to $1,978.77 per ounce at 12:06 GMT, while US gold futures were unchanged at $1,996.00.
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