Price of Gold in Pakistan Increases by Rs. 2,200 Per Tola

The price of gold in Pakistan registered an increase on Friday to close at over Rs. 208,000 per tola.

According to the data released by the All-Pakistan Gems and Jewellers Association (APGJA), the price of gold (24 carats) went up by Rs. 2,200 per tola to Rs. 208,500 while the price of 10 grams increased by Rs. 1,886 to cross Rs. 178,000.

The price of gold decreased by Rs. 1,900 per tola on Monday, however, the rates were not issued on Tuesday as traders remained unsure about the new pricing mechanism. Wednesday saw the price go up by Rs. 6,400 per tola before a slight decline on Thursday when the price dropped by Rs. 200 per tola.

Cumulatively, the price of gold has increased by Rs. 6,500 per tola during the week so far.

In the international market, the price of gold hit a 3-month peak with spot gold going up by 0.4 percent at $1,980.80 per ounce by 1143 GMT, while the US gold futures climbed by 0.6 percent to $1,992.50.