The price of gold in Pakistan fell for the second consecutive day during the current week today to settle at Rs. 205,000 per tola.
According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) fell by Rs. 2,200 per tola to Rs. 205,000 while the price of 10 grams went down by Rs. 1,887 to close at Rs. 175,754.
On Monday, the price of gold fell by Rs. 8,800 per tola, one of the biggest declines in recent months. The price of the previous metal has been on a downward trend since the past month and is trading much below the all-time high of Rs. 240,000 per tola registered on May 10.
The Pakistani Rupee also made a huge recovery against the US Dollar in the inter-bank market today and posted an increase of Rs. 10.55 to settle at Rs. 275.44.
In the international market, spot gold jumped 0.4 percent to $1,929.54 per ounce by 0954 GMT while the US gold futures were up 0.4 percent to $1,937.20.
Source: Pro Pakistani