On Friday, the price of gold in Pakistan fell for the second day in a row, to Rs. 230,800 a tola.
The price of gold (24 carats) declined by Rs. 6,500 per tola to Rs. 230,800, according to data issued by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), while the price of 10 grammes decreased by Rs. 5,573 to Rs. 197,874.
On Wednesday, the price of gold increased by Rs. 9,900 per tola to Rs. 240,000. However, the price per tola was reduced by Rs. 2,700. Because of the price decreases on Thursday and Friday, the current week’s cumulative increase in gold price is currently Rs. 5,300 per tola.
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In a related development, the Pakistani rupee recovered dramatically versus the US dollar today, gaining over Rs. 14 in the interbank market. The currency gained Rs. 13.85 to conclude at Rs. 285.08, up from Rs. 298.93 the day before.
By 1001 GMT, spot gold was down 0.6 percent to $2,003.08 per ounce, while US gold futures were down 0.7 percent to $2,006.60.
