The price of gold in Pakistan registered a meager increase on Thursday to close at Rs. 233,600 per tola. According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) increased by Rs. 500 per tola to Rs. 233, while the price of 10 grams went up by Rs. 428 per tola to Rs. 200,274. Compared to the previous weeks, the price of gold has remained relatively stable during the current week. The week started with an increase of Rs. 1,100 per tola before registering a decrease of Rs. 2,000 per tola on the following day. There was no change in the price of gold on Wednesday. Despite today’s increase, there has been a decrease of Rs. 400 per tola in the price during the current week so far.
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In the international market, the price of gold dipped on Thursday with spot gold falling 0.3 percent to $1,976.09 per ounce by 1106 GMT, while US gold futures were down 0.3 percent to $1,979.50.
The Price of Gold in Pakistan
Gold, a precious metal highly sought after for its value and allure, experienced a slight uptick in price on Thursday. The price of gold in Pakistan reached Rs. 233,600 per tola, marking a modest increase. This development was reported by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), which closely monitors the gold market in the country.
Stability in the Current Week
Compared to the preceding weeks, the price of gold has demonstrated a relatively stable trend throughout the current week. The week began with an increase of Rs. 1,100 per tola, which was subsequently followed by a decrease of Rs. 2,000 per tola the following day. Notably, Wednesday saw no change in the gold price.
Today’s Increase and Weekly Fluctuations
On Thursday, the price of gold experienced a meager rise, increasing by Rs. 500 per tola to reach Rs. 233. Similarly, the cost of 10 grams of gold went up by Rs. 428 per tola, reaching Rs. 200,274. Despite this recent increase, the price of gold has seen an overall decrease of Rs. 400 per tola during the current week.
Gold Prices in the International Market
Apart from the local market, it is crucial to understand the dynamics of gold prices in the international market. On Thursday, spot gold witnessed a decline of 0.3 percent, resulting in a value of $1,976.09 per ounce by 1106 GMT. Simultaneously, US gold futures recorded a decrease of 0.3 percent, settling at $1,979.50.
