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HomeFinanceGold Prices in Pakistan Fluctuate: Rise and Fall Amidst Global Trends

Gold Prices in Pakistan Fluctuate: Rise and Fall Amidst Global Trends

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After a substantial rise earlier in the week, the price of gold in Pakistan experienced a notable drop, decreasing by Rs. 1,900 per tola on Friday. The All-Pakistan Gems and Jewellers Association (APGJA) reported a decline, marking prices at Rs. 220,900 per tola for 24-carat gold and Rs. 189,386 for 10 grams, down by Rs. 1,629.

Read More: Gold prices in Pakistan have risen by Rs1,800 per tola

This reversal followed three consecutive days of significant increases totalling Rs. 3,500 per tola previously. Tuesday witnessed a Rs. 300 rise per tola, followed by Rs. 1,000 on Wednesday and a substantial jump of Rs. 2,200 on Thursday. The surge was primarily attributed to the upward trend in global gold prices.

Read More: 9th consecutive gain: PKR closes at Rs282.53 against US dollar

Internationally, spot gold showed a 0.2 percent increase, reaching $2,069.80 per ounce around 0350 GMT. Conversely, US gold futures experienced a 0.2 percent decline, settling at $2,079.10 per ounce.

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