Gold prices in Pakistan inch down, but stay above Rs211,000 per tola

WEB DESK: In Pakistan, the price of gold experienced a slight dip on Friday, yet it remained above Rs211,000 per tola, according to data released by the All-Pakistan Gems and Jewellers Association (APGJA).

The cost of 24-carat gold decreased by Rs50 per tola, reaching Rs211,300, while the price of 10 grammes fell by Rs42, reaching Rs181,156.

This decline followed a series of fluctuations earlier in the week. On Monday, gold prices rose by Rs1,250 per tola but subsequently decreased by Rs750 and Rs400 on Tuesday and Wednesday, respectively.

Yesterday, the price surged by Rs2,900 per tola. Overall, there has been a net increase of Rs2,950 per tola in the price of this precious metal.

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Today’s rise in gold prices comes after two consecutive days of minor declines. The price dropped by Rs750 per tola yesterday and by Rs400 on Tuesday, but increased by Rs1,250 per tola on Monday. Consequently, the total increase for the week stands at Rs3,000 per tola.

On the international front, spot gold remained stable at $1,985.30 per ounce as of 0950 GMT, while US gold futures experienced a marginal decline of 0.1 per cent, reaching $1,996.20.