On Thursday, the price of gold in Pakistan experienced a second consecutive day of decline, settling at Rs. 218,200 per tola.

Data released by the All-Pakistan Gems and Jewellers Association (APGJA) revealed that the price of gold (24 carats) dropped by Rs. 1,800 per tola to reach Rs. 218,200, while the price of 10 grams decreased by Rs. 1,543, settling at Rs. 187,071.

Also Read: Pakistan Gold Rates Drop, Aligned With Global Prices

The precious metal commenced the New Year with a Rs. 300 decrease per tola in the local market on Monday. Tuesday witnessed a rise of Rs. 1,600 per tola, but this was followed by a decline of Rs. 1,300 per tola on Wednesday.

The recent decline implies that, cumulatively, the price of gold has decreased by Rs. 1,800 per tola over the course of the week so far. In the international market, gold prices remained largely unchanged on Wednesday after hitting a two-week low in the previous session. The fluctuations in gold prices both globally and locally highlight the dynamic nature of the precious metal market.