Gold prices in Pakistan have experienced a continued decline for the sixth consecutive day, with the price of gold (24 carats) closing at Rs. 212,000 per tola on Saturday, according to data from the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA). This marks a decrease of Rs. 500 per tola from the previous day.
Additionally, the price of 10 grams of gold declined by Rs. 428 to reach Rs. 181,756 on Saturday.
The trend of falling gold prices began earlier in the week, with a slight decline of Rs. 700 per tola on Monday. Subsequently, the declines accelerated, with reductions of Rs. 6,300, Rs. 10,500, Rs. 5,800, and Rs. 4,000 per tola on Tuesday, Wednesday, Thursday, and Friday, respectively.
In total, the price of gold has decreased by a significant Rs. 27,800 per tola over the course of the past week. This notable decline in gold prices is primarily attributed to the decrease in the open market rate of the US dollar observed during the week.