The price of gold in Pakistan has been on an upward trajectory for three consecutive days, culminating in a price of Rs. 208,400 per tola on Friday. This information was released by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), which monitors and reports on the fluctuations in the prices of precious metals and gems in the country.
The price of 24-carat gold saw an increase of Rs. 600 per tola, bringing it to the current rate of Rs. 208,400. Similarly, the price of 10 grams of gold also experienced a surge, increasing by Rs. 515 to close at Rs. 178,670.
However, despite the recent rise, the overall weekly analysis reveals a net decrease in the price of gold. The cumulative price drop for the week stands at Rs. 7,600 per tola. This decline can be attributed to a significant decrease in the price of the precious metal at the beginning of the week. On the opening day, the price fell by Rs. 8,800 per tola, followed by another decline of Rs. 2,200 per tola on Tuesday.
On the international front, spot gold also saw an increase of 0.3 percent, reaching $1,915.79 per ounce by 0902 GMT. Concurrently, US gold futures mirrored this trend with a 0.3 percent increase, settling at $1,921.80.
While the price of gold in Pakistan has seen a recent rise, the overall trend for the week indicates a decrease. These fluctuations are a testament to the volatile nature of the gold market, both domestically and internationally.
