The price of gold in Pakistan experienced a significant rebound on Friday after unexpected losses earlier in the week. According to data released by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-carat gold increased by Rs. 4,000 per tola, reaching Rs. 233,000, while the price of 10 grams rose by Rs. 3,429, closing at Rs. 199,760.
This increase comes after a week of fluctuating prices. The week began with consecutive declines of Rs. 1,700 per tola on Monday and Tuesday, followed by a Rs. 1,600 increase per tola on Wednesday. However, the price experienced a sharp drop of over Rs. 5,000 per tola on Thursday.
Despite the fluctuations, the cumulative effect of these price movements shows that the precious metal has cut its losses to Rs. 3,200 per tola during the week so far.
In the international market, spot gold saw a 0.1 percent gain, reaching $1,978.77 per ounce by 12:06 GMT, while US gold futures remained flat at $1,996.00.
Topics #featured #Pakistan
