Price of gold in Pakistan decreases substantially

In a significant turn of events, the price of gold in Pakistan experienced a substantial decline on Monday, reaching Rs. 207,200 per tola.

New price of gold in Pakistan

The All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) released data indicating that the price of 24-carat gold dropped by Rs. 8,800 per tola, closing at Rs. 207,200. Furthermore, the price of 10 grams also witnessed a decrease of Rs. 7,554, settling at Rs. 177,641.

This latest drop signifies a notable deviation from the all-time high of Rs. 240,000 per tola recorded on May 10. After maintaining a consistent upward trend for several months, the price of gold experienced a decline of Rs. 20,200 per tola in June.

Meanwhile, in the international market, spot gold saw a decrease of 0.3 percent, trading at $1,913.88 per ounce at 1222 GMT. Similarly, US gold futures were down by 0.4 percent, amounting to $1,921.8.

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