On Friday, the price of gold in Pakistan continued its decline for the third consecutive day, settling at Rs. 217,000 per tola.
According to data from the All-Pakistan Gems and Jewellers Association (APGJA), the price of gold (24 carats) dropped by Rs. 1,200 per tola to reach Rs. 217,000, while the price of 10 grams decreased by Rs. 1,028, settling at Rs. 186,043.
Also Read: Gold Rates Shine Bright on the Onset of 2024 in Pakistan
The precious metal began the year 2024 with a decrease of Rs. 300 per tola on Monday. Tuesday witnessed a rise of Rs. 1,600 per tola. However, the price of gold fell by Rs. 1,300 per tola on Wednesday, followed by a decline of Rs. 1,800 per tola on Thursday. Throughout the week so far, the local market has seen a decrease of Rs. 3,000 per tola in the price of gold.
In the international market, gold prices were poised for their first weekly fall in four on Friday, with spot gold at $2,054.10 per ounce as of 0156 GMT. It’s noteworthy that spot gold has fallen around 0.8 percent so far in the week. The fluctuations in gold prices, both locally and globally, highlight the dynamic nature of the precious metal market.
