Today, the price of gold in Pakistan decreased for the second day in a row, settling at Rs. 205,000 per tola for the current week.
Data from the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) shows that the price of rare metal (24 carats) decreased by Rs 2,200 per tola to Rs 205,000 and by Rs 1,887 for 10 grams to close at Rs 175,754.
Drop in Gold Prices
One of the largest drops in recent months occurred on Monday when the price of rare metal dropped by the Rs. 8,800 a tola.
The price of the rare metal has been declining over the past month and is currently trading far below the record high of Rs. 240,000 per tola set on May 10.
In today’s interbank market, the Pakistani Rupee also experienced a significant strengthening versus the US Dollar and achieved a gain of Rs. 10.55 to close at Rs. 275.44.
By 0954 GMT, the spot gold had increased 0.4 percent to $1,929.54 per ounce on the global market, while US gold futures had increased 0.4 percent to $1,937.20.
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